All Forum Posts by: Nicholas L.

@Jack Spicer

i'd make it a priority to house hack.  house hacking is a powerful way to build wealth.  those cheap-looking out of state markets come with their own challenges.

good luck

@Jason Fucci

can you househack instead?

@Laurence Fru

can you stay a couple hours away so you can still be hands-on / in person?

buying a random property thousands of miles away won't do anything for you.

@Patrick Roberts

since the homeownership rate is actually still up since the GFC it's not so much that fewer people own, it's just that they're not trading as often.  not sure what that means long term.

@Bill B.

all well said.  i've made offers to owners of paid-off, distressed, vacant properties and they've been turned down, since i'm not willing to pay closer to retail for a house that needs work.  

in some cases the owners would rather sit on them vacant and just pay the taxes every year than accept a price lower than they think they deserve.  without the mortgage payment there isn't that monthly reminder.

@Jay Hinrichs

to your point the first time buyers get a lot of media coverage but they're not the only buyers.  

@Brett Romero

if you post your analysis in the forums you'll get lots of responses.

are you looking at properties in person though?  you need to be doing that too

@George Nadian

i don't know or invest in Dallas, but i will tackle 1 and 2

1. i don't think i understand the question.  what does the rehab budget have to do with how much you're working?  the budget will be based on the work the property needs.  if it needs a kitchen and a bathroom and a roof and landscaping, that's what you'd budget for.  if it needs windows, flooring, 3 bathrooms, and landscaping, that's what you'd budget for.  etc. let me know what i'm missing here.

2. no.

@Tanya Maslach

are you in touch with any other local investors, either in a Facebook group or some other way?  I'd try to get a recommendation from another local investor.

good luck

@Justice Ventura

i wouldn't try to "find a mentor," i think that is something that happens naturally or not.  i would just build a network of other investors and folks in real estate.  if you're not going to meetups already i would start doing that even if you don't end up investing in FL.

good luck

@David Goldberg

slightly different take.

it's not a low barrier, cost effective way of getting some deals. you're going to be up against people and businesses spending thousands or tens of thousands of dollars a month in marketing.  competition right now for deals is fierce.  

here's a better plan:

1. save up for a house hack.

2. house hack.

3. repeat.

you could easily have a medium size portfolio just by house hacking as many properties in a row as you can stand.

good luck