All Forum Posts by: Lance Bolen

Hey everyone, I am trying to buy my first home when I graduate high school and I want to convert it into a Airbnb. My goal would to have multiple houses on Airbnb but I want to know everything that is important starting out for homes on Airbnb.

@Dan Sheeks

Sounds great I’ll read once I have some spare time!

Hey everyone I hope you all are doing well! I am new to real estate and just came across the term house hacking and I kinda understand the term but my question is if I could house hacking multiple houses at once. I I lived in on house and used the profit from the other tenants to fund another house could I house hack that one as well? If that’s makes sense or doesn’t let me know!

Hey everyone! I am Turing 18 and want to immediately get my real estate license. My initial thought was to go into wholesaling once I got it but many people here have told that’s not a good idea. People have recommended something called house-hacking. If someone could inform me on what this is and where to get really good info about whether it be a YouTube channel or course let me know!

@Tucker Cummings

Hey tucker, thanks for your feedback! What sources give great information about house hacking? Would you recommend a course possibly or YouTube? Is there another source that would give good information about house hacking?

Hey everyone! I am soon to turn 18 and want to immediately get my real estate license. By the time I turn 18 I will only have 15,000 to my name, my question is what are ways to get a rental property for only 15,000? Would wholesaling be a better option? Let me know!

@Wayne Brooks

Hey Wayne, so what would be your best advice to get into real estate? Because I eventually want to manage my own flips and buy rentals but don’t have the money to start doing that, how long did it take you until you did your first deal?

@Jonathan Greene

To answer your question John I may be naive but this is what I know best to my knowledge to answer your question.

-I would find the tapir cost using light, average, and heavy.

~”light” is carpet and paint

: >1,500= 10k

: 1,500-2,500= 15k

: 2,500-3,500= 25k

: 3,500-5,000 = 30k

: <5,000= 40k

~”average” is carpet, paint, kitchen, and bath

: >1,500= 25k

: 1,500-2,500= 35k

: 2,500-3,500= 45k

: 3,500-5,000 = 55k

: <5,000= 70k

-“heavy” is everything brand new

: >1,500= 50k

: 1,500-2,500= 75k

: 2,500-3,500= 90k

: 3,500-5,000 = 100k

: <5,000= 120k

- to answer your second question, my understanding is basic but that I’d due to me still learning. I can’t learn everything at once so I know some but not fully on this yet.

- to explain the wholesale process, it falls down to a motivated seller that is wanting out of a house that needs rehab or is not livable. You the wholesaler use the rehab calculations to find a price in which you could offer the seller while still getting an assignment fee and still making your new buyer/rehab we happy with the price they are getting.

- though my understanding is basic due to lack of mentorship, real estate finding interest in properties, land, or any other type of building or housing in general. These spaces could make for great future or current investments.

- in short, yes I do know what arv is=“after market value” to calculate this you add the rehab cost plus what other houses like yours have sold in the city/neighborhood around your house. You could get this information from local realtors or local property investors that know that market.

-and to answer your last question, I don’t have a current funding source if I can’t sell the house but in my purchase and sale agreement I would use a 10 day contingency that I could use to back out of a deal if I could not find a buyer because if the house hasn’t been sold in ten days. My offer probably doesn’t make sense to other buyers

@Jonathan Greene

Hey jonathan, if wholesaling is not the best course to start off in real estate what would be your opinion to start off?

Hey everyone! Once I graduate high school I will no longer be tied down to my city and will be free to move where the money is. I currently live in Oregon and right now and Oregon seems to have very complicated laws when it comes to wholesaling and investing. I would love to move where laws are more free and have good opportunities for investing. Let me know your ideas.