All Forum Posts by: Kyle Spearin

@Reno Puente it's hard to get a read right now. Some houses have bidding wars going over asking, others are lowering prices, and some are falling through due to financing/job lost. Truly the wild west!

Hi @Leo Chun, I wish I did what you are doing now when I was in high school. I recommend reading The House Hacking Strategy. I imagine that buying in LA will be expensive, but if you can break into the market, you will be setting up your financial future in a great way. You will save a ton of money if you can rent by room and own the building rather than living on campus.

Good luck!

@Dan Mackin thank you for sharing this. I can't even imagine what underwriting looks like right now!

@Stuart Hurst thank you for sharing. Keep it up!

@Gohar S. thank you for sharing! How much has the property appreciated since you bought it? It seems like a great market.

@Alexander M Stanton I have a wholesaler associate who was working on a deal in Methuen. If you'd like I can put you in touch. Have a great day!

Hi @Grant Maxey you should be proud of yourself for being 25 and a home owner. Welcome to the community! In terms of your next moves, I can only speak from my approach (which is a bit conservative) and opinion so keep in mind this is just 1 idea and food for thought.

Given your economic circumstances, I would recommend completing your rehab, living there for a year and then renting this home out (live in flip/house hack). After the year is up living in your current house, I recommend buying another house using an FHA or other low down payment vehicle and making it your primary residence. You could also use a 203k loan if you wanted another fixer upper with financing built in for rehabs. Over time, house hacking has huge benefits. I'd be happy to talk more if you decide on this approach.

Best of luck!

Hi @James Fraundorf, I'm not familiar with the area, but I would highly recommend reaching out to real estate agents in the area you're trying to house hack in. At this point in the year, you can get pre-approved and move through the process by the Summer if you have systems in place. Also, depending on how much work you'd like to put into a property, a 203k loan might make sense to add sweat equity and have it financed.

@Stuart Hurst very well-done! Are you planning to invest more in that area?

@Reno Puente this sounds like a great deal. Keep these success stories coming!