All Forum Posts by: Ryan P. Kotschedoff

@Phil K.

All I can say is, tell the neighbors what renovations you are doing to the property and tell them it is not going to be the same as it was after the murder. You don’t want them to disclose the murder to a potential buyer so you need to warm up the neighbors and ultimately letting them know it will be a different property after the renovations.

@Joshua Ryan Meador

Thank you; that means a lot.

@Joshua Ryan Meador

Normally in house hacking I would prefer to have the tenant pay off my mortgage entirely, but $200 out of pocket with some repairs isn’t terrible. Also that’s a big benefit to have a long term tenant that will minimize the risk of vacancy cost. At the end of the day it’s what your market provides with house hacking compared to the other duplexes. I would go for it if you have looked at other possible duplexes and this seems to be the best deal. Good luck

@Tj M.

Honestly, I would much rather acquire say 5 properties that are leveraged then 2 properties payed off. But also mental health is something too take into consideration because I think by leveraging can cause stress and havoc. On the other hand by leveraging you gain more experience and generally a more successful and expanded portfolio from what I’ve seen. At the end of the day there is no right or wrong answer and it all depends on you.

@Brian Gerace

I would definitely take out that equity and apply it to another property. Trying to expand and build your portfolio is very important after your first property. Good luck

@James Gleeson

Did you use a private lender or hard money lender? How did you raise the capital for 59 doors? And how leveraged are you on these deals?

@Juan M Restrepo

I would go with what Nathan said. I think the best option is to advertise it as 3 bedroom but when potential tenants come to look at the home tell them they have the options to make it a 4th bedroom. And in property description explain that it could be used as a 4th bedroom as well.

Good luck

@Seth Ferguson

Thanks for the advice. Maybe I will try going to a few meetups at my local Starbucks or something. 

Hi bp,

I am 16 years old and I have studied real estate investing for a little over 2 years now. My experience consist mostly of the basics like reading books, listening to podcasts, watching informational videos, driving around potential deals after school etc. I will also be an intern at a local real estate brokerage in February to prepare myself for my future career as a real estate agent. Anyways, my question is, what would you do to set yourself up for success in real estate investing if you could go back to 16? What would you have done differently if you could start all over again? What can I do right now on the investing side of things?

Thank you for any tips or pieces of advice.

@Kingsley Edemidiong

Multi family house hacking is the best way to start in my opinion. It is one of the safest financially and you can make sure everyone is keeping there unit well kept up since you would be living there with them.