All Forum Posts by: Louis P Lessor

@David Gorman let's connect; I work full-time in marketing at an agency and would be happy to share some ideas with you. 

Feel free to connect, happy to provide any advice. 

Good luck with Law school 

Congrats on taking the first step in finding a rental property. 

The best advice if you decide to go with looking out of state is to connect with property management companies and start to interview them and see who you connect with to help guide you in finding a property. 

I would also make sure you have a home inspection completed before purchasing, along with a video walk-through with a checklist of what you would like to see during the walk-through. That way, you have a couple of eyes looking everything over. 

I would also offer this advice. 

Dont do a short-term rental 

Keep your new tenants on a month to month 

Lock in your interest rate

As you said in the landlord businesses, keep in mind tenants are great at seeing what they can get away with and this is clearly a test of where you stand, hold your ground and keep continuing to keep it professional. 

@Chris Hamilton

Happy to help you put together a marketing campaign for this if you are interested, my full-time job is in marketing, and have connections to help you put together a solid campaign. 

First, thank you for your service as an investor currently house hacking. It is one of the best options right now until the market starts to cool down, and then as many other people say, just continue building your portfolio with this method or build up enough for a more significant investment property. 

I would also look at properties with garages, and you can rent those out as extra income, and if you have additional parking spaces and your city allows, rent those out as well. 

First off welcome to real estate investing. 

As a lot of people are saying.

1. Be patient with finding the right property - where the numbers work in your favor in the LONG TERM. 

2. Keep increasing your knowledge of all the real estate investment strategies and see which ones will work with your coverage financial goals. 

I would not go with a condo, HOA fees, rules, and resale value is going to be a lot less than a traditional family home.

House hacking right now as mentioned is a great investment, one that I am currently doing and waiting to see what the market does.

If I can help in any way please feel free to reach out, happy to line up a call. 

Welcome to Bigger Pockets, and congrats on wanting to start your real estate journey. 

As mentioned, I would first see what you can qualify for on the financial side to help you decide on your next move. 

I would also spend a lot of time just reading as much as you can, both on real estate, businesses, and personal development, to help gain more clarity on your WHY, which you can use to develop your next moves. 

As a fellow e-commerce business owner and real estate investor, all I can say is to use the tough times as motivation. If I can help, please feel free to reach out. 

Thank you for sharing, could not agree more with the below thoughts

1. I have a rule that we don't buy a property we would not feel comfortable living.

2. Listening to people who have been there and done that 

3. Focusing on the numbers - yes numbers are important but if it takes you a year or two more to recoup your money and its a good long term investment then that is the better option instead of the 80k that needs more work. 

@Jordan Roueche feels free to reach out, happy to help. I am growing my knowledge ever day and have been lucky to find a mentor that has over 200 doors and growing every day. 

Welcome to real estate.