All Forum Posts by: Luka Milicevic

Count me in and please keep me posted

Welcome to the BP community, Chase. Let me know if you want to get together sometime. 

Welcome to the BP family! 

Thanks for sharing. My wife and I earn about the same so I need to get on it and accelerate my business

When I was looking for a primary residence about 2 years ago, I found the perfect house-It was the absolute best house in the neighborhood. It was also the cheapest and had been on the market for the longest time. My agent informed me the house was in a flood plain and any lender would require about $300/month in flood insurance. 

It was close to the Harpeth river and flooded during the 100 year flood in Nashville. It probably floods once every 100 years and therefore requires $300/month in flood insurance??? I'm sure there is a way that can be removed with some sort of assessment.

Gosh, that front porch was really falling over! 

In terms of keeping it for a rental or flipping-largely depends on your goals. Do you need the money now for another project? Do you want the long-term payments from buy/hold?

If it was me-I would keep it and rent it, but that's only because I like buy/hold!

You definitely don't need to wait to get started. You can enlist the help of an agent right away. Having a license most definitely does not hurt! If you're interested, I would definitely get the license but again, no need to wait on getting started if you don't have one.

Best way to start I think is to invest in a duplex. In terms of FHA loans, they require 3.5% down, check with your lender if you qualify. They are not very difficult to qualify for is what I have seen from my experience

@Sean Tracey Thanks so much for posting, I am in a very similar situation. I have probably 10+ years of experience in stocks, and I've done most everything (Day trading, swing trading, options, index funds, etc). I have poured many many hours into studying the stock market and I have come to the conclusion that the more boring I invest the better my returns. I have done complicated options strategies and day trades that were very exciting when my returns were huge on a few minutes of work, and other times I had to cry myself to sleep. I absolutely hated the up and down nature of active investing. 

With that said, I have recently dedicated all of my paper assets and any accounts that I manage and any advice I give out to just go into index funds. Don't touch your account because the more you mess with it the worse your account will perform (proven fact). 

I am however, looking to move into real estate full time and invest close to 100% of my paper assets into real estate. I think it is a much more stable and proven method to wealth creation. 

I have heard many arguments that returns in stocks are higher with less work than real estate. My own research disagrees, as I have found that returns in real estate can be higher, and more importantly; more consistent. You also have so much more control with real estate than you do with stocks. 

I honestly recommend to everyone to invest in real estate over stocks, and I am not just recommending this, I am actually doing it myself. I am happy that I will never wake up one morning and have an asset worth 10% less than it was when I went to sleep.

It depends on the sqft of the property. 

I would say don't get the LEAST efficient model. Remember if your tenants are paying very high utility bills due to inefficient furnaces, it will put a strain on their ability to pay rent. My advice would be to get something mid-range.