All Forum Posts by: Nakia Addison

@Daniel Vidrio! Cheers to success! 

Hi Daniel, it is completely typical to have those thoughts regarding real estate. Im in the process of educating myself. I think it is about taking the leap of faith. Mistakes are inevitable. However by educating oneself on the subject matter and obtaining mentorship than it can assist with avoiding major mistakes.

I prefer purchasing a condo as a primary residence to build equity for an investment. I think purchasing a  condo as an investment property depends on personal investment strategy and I find condos to be a  bit more restrictive. 

oh my!! This is what I needed to hear! Your story is amazing! Thank you for the inspiration. 

@Maurice Blackledge Congratulations! That youbfor sharing your story. Inspiring!

Hi Carlos Bello! Great observation. I'm currently acquiring info but have yet started a deal. I desire to have an experienced investor/mentor to assist me with my first deal. However; it appears that I may just need to overcome that fear and know that I will have to act alone. 

@Tim Herman.

I appreciate your feedback. That makes sense. So therefore if the numbrrs make sense than purchasing a duplex would be great idea. However, I will not live for free.  Duplex would be a great start towards my real estate investing if only the numbers make sense.

I would like clarification when analyzing a duplex with the option of house hacking. For instance I rent out one unit and I live in the other. Questions are listed below:

Q1: When I use the calculator to input the monthly rent, do I only account for the unit that is being rented out, or do I account for my unit as well even thou I will be living there?

Q2: The ultimate goal is to live for free with using the house hacking concept. However; if one unit covers the mortgage only, than my expenses would be my own utilities in my unit? Is this correct?  

I may be overthinking but I would like clarity. Thank you!

@Mike Main. I've considered out of state investing but I rather start with local areas for hands on experience. Long term goal would be to venture into long distance projects.

@Ben F. Thank you for the feedback. I have no knowledge about the homestyle loan program. I will research. I'm looking into all options as possible so I can purchase my first real estate property.  So with a  Heloc I would have 2 mortgages? Primary mortgage and a rental property mortgage?