All Forum Posts by: Neil Crook

I love this Tim. It's brilliant and I can totally imagine all the fun you are having! Your journey is like many of ours I am sure (my own is ongoing but not to some calamity as yours). Keep up the good work and keep us updated, I want to see the final BRRRR when it's complete.

No idea for your markets in the States, but if you are looking to house hack, then you have to be looking for duplexes, rent one unit and live in the other. Does the rent cover the mortgage? How much out of pocket will you be?

Knowing how much rents will be, can help you steer in the right direction for a deal so you can house hack. Pretty sure there is plenty of info on here how to house hack :-) 

Hi Zachary, that's quite an open ended question you've given the forum! How much money down do you have, what markets are you looking in to, are you looking for one with 1% rule or the illusive 2% rule? How much involvement do you want in the managing of the property, do you want a fix up or something that is ready? What areas do you want to invest in?

I think people will have a hard time to offer you advice. Try to detail more what you are looking to achieve from the property, otherwise you may not get much help. 

A question of cost. If it costs more to reline / repaint the tub then I would say no. I would replace it with steel and not fibreglass as that might not go with the aesthetic you're going for! 

Good luck with whatever you choose :-)  

Wow good for you Sal, thinking about real estate at such an early age! I spent WAY too much during my twenties and wish I had the intelligence to be investing my money rather than spending it on parties! Financial education was very lacking! 

It sounds like you have a difficult situation ahead of you. There's no reason why not to start now, you can take the job, move around the country and check out places to live, see what the markets are like, visit some possible deals, all the while, getting an education on real estate investing and also saving as much as you can for that first deal! 

I wouldn't recommend jumping in with no experience or no income. That sounds like a recipe for disaster! 

Save for the next three years and you'll have a nice little nest egg to invest when you come out of your rotational program and you might find a deal along the way. 

It's a long learning curve for real estate investing, but you're in the right place to start to learn! 

I've just finished the audio version of the book and ever since I have been walking around with a slight smug feeling I know more than the average Joe. It's totally true (in my opinion) in his teachings, which they are. My father was a successful accountant but taught me nothing really about money other than don't spend more than you can afford, get a good education, get a good job and then buy a house, car and then work till your 65.... 

Rich Dad is totally worth the read just to open your mind to the possibilities! My wife and I are now on our investing road and working hard to buy assets, our house is not one of them. We own it in full, but this is still a liability. Watching my friends and my sister increase their mortgage to make an extension or buy a new kitchen, so the house is worth more hurts me to see! If only they knew! 

We are purchasing low end small houses for rent, because the apartment market vs return is not worth investing in this area now. 

Just working on the financials for my FIRE number, looks high but you need big goals :-) 

That's a great story! Well done and keep up the good work. Success for the future. 

Ride the bike. You made some mistakes, you learnt. That is the most important thing. Keep going.

Thanks for sharing the hard times, we've just settled on our 4th deal and it's a super hard process, hopes high for certain properties, disappointment when you view the holes with your own eyes (Estate Agents = Good Marketeers), uncertainty that is this the right thing to move on, the list goes on. It's all part of the game and one we are all learning as our toes go in to the water. 

It's hard, but if it was easy, it wouldn't be fine, worth the rewards and everyone would be doing it. 

Brush yourself off, eat the chocolate and crack on :-) 

Having read your other post about the situation,my condolences for your situation.It seems your siblings are out to get everything they can and disregard any concern for your welfare or the stress it might be causing you. I'm not from the States so have no clue on the rules etc but I would get yourself lawyer and get everything in order and make sure you are on solid ground in your purchases and ownership.  

Then you can present the facts to your siblings and file suit to have your legal fees paid as suggested in the other post. 

Get your brother evicted as well, seems like family relationships are not a concern considering the lack of respect to you, or your property. You may struggle because you have no agreement for the living arrangements or payments. But if you're missing out on 1000 USD per month, the lawyer costs could soon be redeemed (after you've repaired the property as I am guessing your brother has not cared for it). 

Never mix family and money! Even with all good intentions, when things get serious, it's everyone for themselves and it's business. 

Hi to everyone! 
Newbie Neil from Hungary here. Originally from the UK but married to an amazing Hungarian girl and now we live here!

Slowly building our portfolio here, owned house and two flats. Working on our next deal. 

Loving all of the advice, have to filter for the USA stuff but general advice is priceless. Thank you and keep up the good work!