All Forum Posts by: Rachel Morrow

It's all a power play. The government knows that real estate holders also hold power and that supporting landlords doesn't support their plan to keep the population under their thumb. 

@Timothy Cavalieri What most lenders want to see is secure, stable income that has been consistent for at least 2 yrs. Many will lend to you if they see that you've been working for the same job/jobs since leaving school. 

That said, most lenders favor full-time jobs and have qualms about or even rule out altogether lending to those with only part-time income. Investor-friendly lenders take some effort to find, but once you do, they're worth their weight in diamonds. It took me a while to find one who lends all over the country and is very open to looking at finances in multiple ways to get qualified.

If that 1099 job is something you are excited about, I don't want to discourage you from pursuing it. You can scale very quickly if you have the hustle, motivation, and an "unparalleled-service first" mindset. This could also help you get the cash for a down-payment a lot quicker than if you were working a normal W2 job where Sally who's always on her phone gets paid just as much as Tim who's out there busting his tail. 

If you choose this route, you could also look into creative financing and getting parents to cosign on loans. There are so many options, you just gotta look! 

Timothy, I can deeply resonate with your story. I started off pre-med, got accepted into med school, and dropped out last minute to get into real estate full time while working a W2 job. I guess once you get the real estate bug and a taste of how exciting and dynamic the industry is, you can't unsee it. 

One thing I can say I did right was getting a W2 job right after leaving school. This allowed me to be "lendable" if that's even a word. House-hacking is the best way to get your foot in the real estate door as a beginner, even if you quit right after getting into the house and THEN moving on to being a 1099 employee! 

Incurring "good debt" at this time when interest rates are still low is one of the smartest things you can do to leverage your investment in your future.

I love your passion and drive for financial freedom through real estate! Whatever you choose, you will go places!

 Rick, we investors would love you for that!

I absolutely agree with you that in-person meetups are way more interactive and productive.

Have you checked out Meetup.com? Here in KC, we have only a couple of monthly meetups, but here are some I found in St. Louis.

https://www.meetup.com/Real-Es...

https://www.meetup.com/St-Loui...

Use filters to select "in person" and key word "real estate", and it should pull the good ones.

Working on my first investment at the moment, a house-hack that I found off-market. It's grossly under-rented, and the owner wants to 1031 into a commercial property. 

I am hoping and praying that we reach the closing table with no bumps in the road! 

Things I learned from this deal so far: 

-Find a good lender (by calling multiple, getting to know them and their lending standards) and build a relationship! 

-If you have an offer in mind, you should probably offer a bit less (however, don't low-ball just because you found it off-market). If you want seller's credit towards closing costs later down the road, you won't regret doing this, as you can always offer more on the purchase price.

-Communication and relationship are key. Listen to the seller's story. People love sharing how they got the house and what brought them to where they are right now.

-Have fun and enjoy the process! In the end, you will either learn a lesson or makes $$$

@Julia Sung Absolutely! Excited to see you succeed in your first investment!

@Carlos Gonzalez You could always go with the well-known method of finding an investment partner on BiggerPockets by lurking around the forums to see who in your target area knows their stuff!

The key is to always lead with value first: expressing what you can do for them instead of what they can do for you.

Another lesser-known strategy would be to attend webinar/zoom meetups in the Florida area, meet someone, and schedule a one-on-one call to determine if your values and goals align.

As a beginner investor, you have a healthy budget to get started! 

I am a licensed Realtor in the KC area of Kansas, and when identifying "investment-worthy" neighborhoods for my clients, I take a holistic approach to evaluating the area.

I don't use one single website, but I use City_Data to help gauge the employment, crime, population income, and other nitty gritty data of each specific zipcode or tract. I analyze the potential cash flow of each door by taking into account market rents (recently rented out properties) along with property taxes and purchase price of the home. Even using basic tools such as Trulia's "shop and eat, crime, and schools" tab helps you get an idea of whether or not the property is located in a good school district, safe area, or amenity-rich neighborhood. 

The KC housing market can be a cash cow, but analyzing each property with a 360 lens is imperative to succeed in the long game of investing. 

Happy investing, and let me know if you have more questions!