All Forum Posts by: Rene Hosman

 Have you looked at the BiggerPockets Market Finder? BiggerPockets has a ton of great resources to help you find the best market to fit your goals. Here's a couple of these tools:

BiggerPockets Market Finder - shows you real estate investor related statistics about different markets so you can compare

Pick your market Webinar by Dave Meyer - host of the BiggerPockets podcast Dave Meyer reviews how to analyze markets to find a location for your first or next deal.

Picking a market worksheet - A free downloadable worksheet to help you choose a market

 Welcome Ian!! You're in the right place if you want to start educating yourself. Are there any specific niches in RE that are most interesting to you? 

You mentioned development which is a specific niche, typically something you'd start with an entry-level W-2 job for a developer if you're ambitious and don't have the capital yourself, that's more along the lines of commercial real estate which is great but something to consider if you're more interested in starting off by learning commercial real estate investing on an institutional level versus residential real estate investing

Hypothetically, if you own a rental property, would you rent it to friends or family? This was a very interesting discussion in one of our BiggerPockets facebook pages recently so I'm curious what you all have to say. 

I've personally had a positive or at least neutral experience with this but my opinion is it really matters if you're renting to this friend/family member because they need you to rent to them because of some kind of life circumstance or maybe they're not qualifying for another rental versus are you renting to them simply because it would work well for both of you. 

If it just works well for both of you given the timeline, location of the rental or whatever then why not? Just treat them like every other tenant, lease, security deposit, etc. 

If it is because they need a rental for some life circumstance my personal litmus test would be - would I allow this person to move into my personal residence with me for the period of time they want to live in my rental? If the answer is no then I also wouldn't rent to them in one of my rental

What do you think? Would you rent to friends or family? What things would you consider if you were making this decision?

How much more can you make from a co-living strategy versus a whole-house rental for a SFH?

What additional terms do you need in your lease for co-living versus other strategies?

How much more time does it take to find tenants and how often do they turn-over?

These are questions I have about co-living!

@Miller McSwain replaced his high-earning rocket scientist salary with real estate using the co-living strategy for his rentals now he's published a book about it you can find here so you can learn about it yourself! 

Next week he's going to be doing an author AMA (ask Miller anything) about co-living. So what questions do you have for him about co-living? Drop your questions now and Miller will answer them for you! 

Just putting this here for anyone who reads this post moving forward, if you want to learn more about this strategy of co-living and how to maximize a SFH Miller McSwain just published a book through BiggerPockets that goes into detail on alllll of this!! He replaced his income as a literal rocket scientist by using the co-living strategy in Colorado Springs.

For less than $20 you can learn from a master! https://store.biggerpockets.com/products/co-living-cash-flow...

Hey @Tyler Ferguson it's been about a year since you posted this so I'm curious if you went through with the process of buying a house for co-living and how it worked out? 

Also BiggerPockets just released a new co-living book by Miller McSwain who is also a pro in the co-living space and it's only $10 right now so it's .1% of the cost of that 10k course haha https://store.biggerpockets.com/products/co-living-cash-flow...

There's a great new co-living book and part of it goes over exactly this! https://store.biggerpockets.com/products/co-living-cash-flow...

 Welcome Joshua!! That sounds like a great plan, what is bringing you to NC? 

The first thing I'd recommend is if you have visits to NC planned before you plan to move, try to attend some local meetups in that area to get to know others investing there. 

As for lenders, you can use the BiggerPockets lender finder to find investor-friendly lenders who may be able to help you game plan and strategize your move and REI goals! https://www.biggerpockets.com/business/finder/lenders

 Have you been able to poke around the LA market? Would love to hear feedback on what you have liked and what you'd love to see in the future!

 Hope to see you there Dan!!