All Forum Posts by: Kyle Spearin

Hi @Zachary Olley congrats on taking the step into house flipping. I would recommend trying to joint venture with an experience flipper for your first project. As long as you can provide value in some form or another, this will also be to your advantage. You'll probably find that they drive for dollars, buy at auction, use wholesalers etc. 

Good luck!

@Christian Shappee nice job!

Hi @Jouvan Johnson, congrats on starting your journey! I think that reaching out to agents in the Tampa area is a great idea. You can find a ton of great resources here on BP, but Zillow or even a google search will lead you down the path to find an agent. Definitely talk to a few and get a feel for how they operate. See who the most responsive agent is and then factor in other things that you value.

Good luck!

Hi @Vanessa Eckhof, it's cool to see someone else in education interested in real estate. I think that a house hack (as you've indicated), is an excellent way to get into real estate. Not only will you have your mortgage paid down, you also seem to have an exit strategy and target demographic to rent to afterwards.

In relation to your questions: 

1. To find out if you would qualify, reach out to local lenders and let them know your situation. I'm speculating, but I'd imagine that they are going to want you to have a co-signer on the loan because you don't have 2 years of employment under your belt. This is just for risk on their end since they aren't going to be sure if you have a solid work track record or not.

2. Double check Florida state laws and ask the lender about renting rooms, but if you're the owner of the home, there's no reason you shouldn't be able to do this that I can think of. Unless you buy a multi-family, chances are that this rental income would not be something that the lender factors in from a financial perspective.

3. Some other advice I have is to read and do your research. I recommend checking out the first time home buyers guide. Another resource that I'd recommend is the House Hacking Strategy--you'll learn a lot of practical things from this.

Good luck and feel free to reach out if you need help!

@Gohar S. this seems like it's going to work out big time for you. Out of curiosity, are condo conversions allowed and/or popular in your area? When living in Boston, this was the latest fad for multi-families.

@Anthony Liguori I think that @Kevin Paglia means hacking one house, then moving onto the next. After house hacking, what is the next best strategy for a more conservative investor?

@Chris Risi thank you for sharing! Knowing what you know now, how will you approach the next one?

@Tim Andy, keep up the great work! Pittsburgh seems like a great rental market! I'd love to hear more about this.

@Keenan Fitzpatrick nice job! Keep it up!

Hi @Robert Dubois, welcome to the BP community! Although I'm not a wholesaler, I do have a few suggestions that might be helpful:

1. Check pre-foreclosures and for sale by owners on Zillow.

2. Deal Machine seems great from the BP ads, but I have no active experience with it. The idea of driving for dollars in areas you're investing in, then having your own custom list seems like a great concept.

3.Build relationships with real estate agents in your area--they will have lots of insight and might be able to steer deals towards you.

Wish I had more, but I'm coming from a place of limited experience in this respect. I wish you all the best!