All Forum Posts by: Larry Williams

Leave a contact number with a short message and I'll get back to you as soon as possible.

@Larry Williams It's wonderful that you have a property gifted to you and that you are interested in real estate at such a young age. Here are some thoughts and advice on your questions:

Pulling Equity for Repairs and Down Payment
Neighborhood Considerations
Networking
Financing
Research and Due Diligence
Property Management

Take note that real estate investment necessitates thorough preparation and research. It's fantastic that you want to talk to seasoned investors and ask for guidance. Getting knowledge from other professionals in the field may be quite beneficial. 

I hope your real estate goals are fruitful!

Larry you are in a great position because regardless how much cash you already have on hand, you can use the equity of your free and clear property as a down payment on a triplex. Two of those units should cover all your expenses and give you pretty good cash flow, but that depends on where you purchase the property as well as condition. Remember that you can continue living where you are and then the triplex will have three rented units. When purchasing a multifamily it will be the revenue generated from the property that will count most, not your $27,000 income from your job.

What's up Larry!

I was a little older than you when I bought my first "live-in-flip" and house-hack! If you are interested in short-term-rentals, make sure your property is properly zoned for it. If I could do my first house-hack over I certainly would've bought a property that could've made an awesome STR when moving out. Great way to supercharge your path to financial freedom.