All Forum Posts by: Nathan Witte

 @John Warren Thank you for taking the time to respond to my post. I'm very excited to start listening to the podcast you provided in your post. I would love to start going to local real estate investing meetups around my local area and connecting to like minded individuals. I know that I wouldn't be able to bring immediate value to these meetups, but I know the information that would be provided at these meetups would be invaluable to investing journey. 

I look forward to meeting in person!

 @Mark Ainley Thank you very much for your response. You ask very important questions that can be difficult to answer for beginners like myself. I understand the importance in being able to give definitive answers to these questions. I currently plan to live in downtown Chicago for two more years, and would be looking to move into a duplex for a house hack after that period. To answer your question plainly:

1. By May of 2025, I would be looking to move into a duplex and beginning my house hacking journey. 

2. I am hoping to have saved enough at that point to at least be able to put a down payment of 25K-35K on a property. 

I understand that this might be a long time horizon, but I think this is a fair goal and feasible goal given my current situation. In the meantime, I plan to learn more about wholesaling, as I could lean into this as a side hustle to bring in extra income to fast track my savings goal. This would also be a perfect way to start connecting with people, learn how to overcome rejection, become a problem-solver, and develop a "Be your own boss" mindset. I would love to hear your thoughts on this as well. 

 Hey John, I really appreciate the advice. I currently live in a high rise in downtown Chicago. I will try to reach out to the PM and see if I could just set up a meeting to talk about how they got where they got. I never really thought about taking this angle, but it is such a great tip.

 Hey Jacob, I love this advice. I think working part time for a property manager or investor would be a great way to get experience while working towards my goals. I haven't been too active on Facebook, but I will start to become more active on the platform and follow some investing groups. Thank you for your response, and I look forward to discussing more!

 Hey Paul, thanks for replying! I am definitely a big forward thinker, so I have put a lot of time into what my next move will always be. I absolutely need to start clearly defining where I want that next move to be and what I want the next move to look like. Seems like the most important next step is going to a local real estate investing meet up and connecting with people through those meetings. I appreciate you taking the time to give me some advice! 

Thank you for responding with such great advice! I have already started looking into local REIA based on your information. I definitely need to do some more researching and start analyzing properties to better understand how to properly analyze a deal and become more confident in my calculations. Looking forward to talking more!

Hello, my name is Nate Witte. I am 23 years old and am eager to begin my real estate investing journey. I have been listening to podcasts and reading real estate investing books since high school. I know that when it comes to real estate investing you need to either have knowledge, money, or time. Currently, I am saving as much money as I can, so that I can eventually make a downpayment on a duplex, triplex, or quadriplex and house hack. In the meantime, what are some recommendations for what I can do while working towards saving for a down payment? Also, what is the best advice for building my network and adding value to the people around me. Thanks and looking forward to connecting with people!

Hello,

Yesterday I went driving for dollars for possible homes that seem to be over run and not taken care of or abandoned. I'm not sure how I approach these properties to see who the owner is and if they would be willing to sell or not. What should I do?

Thanks,

Nate Witte

@Account Closed 

Definitely go to Real Estate Meetings within your area. I would say that most people within your area connect with each other through these meetings. Also, set keyword alerts for your city. This way when someone is talking about your city within bigger pockets, you can connect with them and reach out to them on here. Try to connect with as many people as you can possible, and start building relationships with those people. 

Nate Witte

@Kerrick Long It seems that you have some more knowledge than the average person when it comes to Real Estate Investing, but I think you still have a little bit more to learn. BRRRR Investing relies heavily on the ARV and rents. You need the rents to sustain the property and the ARV to estimate the LTV that you acquire when you refinance. I think you need to learn more about BRRRR Investing and then learn what the comps in the area are. If this property sells in that time, then oh well, there is always another property. If it doesn't sell and the numbers still work after learning more about the method then great.

As Warren Buffet says,

"Risk comes from not knowing what you're doing." 

Best of luck Kerrick,

Nate Witte