All Forum Posts by: Nigel Dollentas

Originally posted by @Bob Okenwa:

Comp - Recently sold home in your area that’s similar to your home in location, size, condition and features.

As for BRRRR, make sure your numbers are legit. If you post the listing, I'd do my best to assist.

I'll Dm you the listing.

Originally posted by @Bob Okenwa:

@Nigel Dollentas

You'll need to provide more details if you want accurate advice. What is the goal of this property? Flip, BRRRR? Just rent it out?

FHA loans require the owner to occupy the property for at least one year. If that is your plan, then you should be fine. But you'll need to find out how much repairs will be and if it is worth the cost and what the comps are.

If you don't already have an agent, I'd suggest finding one to help walk you through the homebuying process.

Probably similar to BRRRR. Occupy it for at least one year - and what do you mean by comp?

There's this nice house I've been eyeing near the university I go to. I've read up on the basics and want to know what are the questions I need to be asking myself to determine if it'll be worth it. It's definitely going to need some fixing (listing price is $30,000, not sure what repairs will be needed) but it's a 4 BD/ 2 BA which I plan to finance through a FHA loan.

I'm not sure what details I should list or if I should just post the listing below but any and all help would be much appreciated. 

@Kiersten Vance My anticipated major is actually accounting, so that works out. And just got off the phone with the school, they recommend waiting until I'm 18, as you only have a year to take the license after finishing the course so I'll have to wait until next April or something... 

@Neil Schoepp I will start doing that, I've gotta educate myself. 

@Kiersten Vance Regarding getting a license, it seems that apparently you have to be 19 to obtain a license. But I did found a good school it seems. https://www.alabamarealestateclass.com/index.php

@Kenya Teague  Will look into it! Fortunately enough for me, I have a full ride scholarship to the college I'm going to which includes housing so I don't think this would work for me. 

@Patrick D. Roberts The age thing is okay. My birthday is coming up soon, so I can do some solo education on my own for now. 

@Peter Vekselman  Are there any easy ways to find "successful investors"? I would love to intern for one of them. And I'll definitely take up that offer and hit you up with a PM if I need some advice. 

@Brian Callan  I get this sort of reaction a lot lol... For me it just seems like the most logical path. I don't want to work for my whole life, I'd rather have some nice cash flow passively :D

Hunter Norsworthy I'll look into it! I'll keep you guys posted.

Hunter Norsworthy I think I'm interested in looking at duplexes, especially in the Huntsville area. I'm told by one of my more experienced REI friends that's a good area to check out, especially if I could become an owner-occupant.

Justin Howe the offline place is neat. I never even heard of that awesome. But regarding the online, any more specific? There's a TON of information here, like what should I read first? I have no problem investing time educating myself, I just need somewhere to start.

@Hunter Norsworthy that's exactly what I'm looking to do first! Get the knowledge, the problem is there's SO MUCH. Where should I start? 

@Justin Howe that's exactly what I'm doing right now. I'm in no rush to enter the market, and I firmly agree with learning a great deal amount before closing on my first property. Any pointers to where I could do just that?