All Forum Posts by: Nadeem Alamgir

Keegan, since you're starting with limited savings but no debt, one of the best first steps is house hacking. This means buying a small multifamily (like a duplex), living in one unit, and renting out the others to help cover the mortgage. You can do this with an FHA loan, which usually requires just 3.5% down. For example, on a $200k property, that's about $7,000, plus closing costs and some cash reserves.

If house hacking isn’t possible in your area, consider a turnkey single family rental with minimal rehab, though that usually requires a higher down payment of 15–25%.

Hey Reese, I wouldn't say MLS deals are "bad" they're just one source for generating deal flow. That said, MLS properties do tend to be more competitive compared to off market opportunities. This is because MLS listings are public, meaning you're competing with other investors who may have more experience, be more aggressive, and have advantages like quicker walkthroughs or cash offers.

If you’re looking for value add deals, your best bet is to focus on off market opportunities through investor friendly agents, wholesalers, Facebook groups, and similar channels. Off market deals often offer better pricing and more flexible terms.

Hi Lynda, a great way to get started is by house hacking, which lets you use an FHA loan with a down payment as low as 3.5%. This works if you buy a 2–4 unit property, live in one unit as your primary residence, and rent out the others. The rent from the other units can cover most or even all of your mortgage.

After living in the property for at least a year, you can move out and rent your unit, turning the entire property into an investment while keeping the FHA loan in place.

Cleveland has some very affordable areas where you can do this. Let me know if you’d like me to explain more about how the process works or help you find properties that fit this strategy. Best of luck!

Hey James, the best strategy is whatever offers the least resistance for you to get started. I have many new investors reach out to me looking to begin with fix-and-flip or BRRRR strategies, and once I present these deals, they are taken back by the amount of rehab required, which is due to their lack of experience with renovations.

If the price makes sense in your local market, then you should definitely consider that option first. If you're looking out of state, you should consider turnkey or light renovation projects to help you build a foundation in the market before investing in higher rehab projects. Best of luck and hope this advice was helpful. 

Hey Abhishek welcome to BP! While BRRRR is a great long term strategy, it's one of the hardest ways to start, especially when doing it out of state. There are a lot of moving parts, rehab, financing, appraisals, and if you don't have a trusted team, things can go sideways quickly.

You might want to consider starting with a turnkey or light renovation rental that’s already tenant occupied or close to rent ready. It’s a safer way to learn and still build equity and cash flow. Once you have that experience and team in place, BRRRR becomes much more manageable. The out of state BRRRR buyers/flippers I work with have either a local partner or a solid boots on the ground network. Hope this advice is helpful.

Welcome to BP Jephte Lapointe! This is the place to be. 

^^ Not bad advice, BRRRR deals can be attractive, but it's not the easiest strategy to start with. You'll have a smoother experience by starting with a house hack.

If your local market is too expensive, consider looking into turnkey or light renovation properties that are already tenant occupied and bringing in market rent (or close to it). It’s a more manageable way to get your feet wet and build solid momentum. Best of luck! 

The best advice early on is to get clear on your goals whether that’s cash flow, appreciation, flips, or something else and then start learning how to analyze deals and build your network.

It might be a little early, but I’d still recommend connecting with an investor friendly agent in the market you’re targeting. They can give you insight into what types of deals are out there and what other investors are buying.

Also, check out local networking groups on Eventbrite and Meetup.com. They’re great places to learn and meet people who are active in the space. Best of luck on your journey!

Yes, once you move out and convert the property to a rental, you will typically lose the homestead exemption, which can definitely bump up your property tax bill depending on your state or county. That’s why it’s important to factor in the non-homestead tax rate when running your rental numbers upfront, even if you’re living there initially.

Hey Dave, I just answered this in another thread just 2 minutes ago haha. 

I recommend going to Facebook and searching up key related words associated with your market. Join them and you'll see a bunch of wholesalers on a daily basis sending out or asking for deals. I get in touch with them and ask to join their email list.

Also you can try to find investor friendly agents. Most times these agents already have a working relationship with reputable wholesalers since they have value-added deals. They're way more savvy as well when it comes to dealing with wholesaler and some of their "tactics". Best of luck.