All Forum Posts by: Sam Valme

Hey @Phil Bottfeld. Great job on the first deal! I'm working on my first Buy and Hold/House Hack as well. I did have a question for you. You mentioned that the first home wasn't bought at a deep enough discount because you found her straight off the MLS. Then you mentioned that your currently working on another home in the same development.

I was wondering, did you also find this home off the MLS? Or did you have another source for this new lead?

Welcome @Cassandra Severin!

https://www.biggerpockets.com/meet is a great spot to start meeting local BP members in your area! 

Good luck! 

Hey @Patrick Brown,

I would check out the Marketplace on BP: https://www.biggerpockets.com/forums/517-real-esta...

You need a Pro account to post but at least you can see who are promoting the deals. There is also https://www.biggerpockets.com/meet . This is a great way to connect with other members on BP in your area! 

Good luck! 

I skipped reading the responses by the time I got to page two so I apologize if i'm giving redundant advice. But I wanted to give you the perspective of a 23 year old who decided that finishing his bachelors wasn't for him. 

The fact of the matter is your going to have to learn about business. Either from school or from a job. You can indeed do both at once. Both offer perspective. But in my opinion, the real world is the best teacher. I am in Software Engineering for my primary income. I worked through high school and community college and currently have my associates. My wife and I were considering heavily on whether i should continue for my bachelors.  

At the end of the day, I realized that I wasn't going to devote the time and effort necessary. My heart wasn't in it. Therefor, it would have been a waste of money and time. I would have been miserable and we would have been dumping 3k a year into tuition (1 class a semester) for 7 years. However, being a consultant in IT. I've learned about business, project costs, profit margins and project management. I may have not learned them scholastically but I definitely have seen what to do and not to do with large sums of money. 

I really think that is the key. You don't need a degree. You will however need to learn about the trade. You can invest in school, books or a part time job. However you best receive and comprehend the information is really up to you. 

What I would advise against. Is doing something because its what everyone else tells you to do. If your heart isn't in it, you won't get most out of it. You'll end of wasting time and money. And I don't think that there is an investor on this site that would agree with anyone wasting their time and especially their money. 

You would be correct! You can find even more acronyms listed out here: https://www.biggerpockets.com/rei/real-estate-abbr...

Welcome to BP!

I personally have been renting my home for the past 5 years. I've had a lot of success with Craiglist. But nothing gets better then the good old fashion referral. With Facebook and other social media platforms. I've always had my room filled before the last tenant has left. I've also had some success posting on college boards.

Hello @Donna Sommers! 

I'm assuming your affiliated with Tenant Cloud and can answer a couple of questions. Right now I have my rental units set up. I put in my mortgage

being paid to the owner. But when I try to "pay" the vendors for utilities. I can't seem to create a payment. This of course throws off the general ledger so I can't accurately view my NOI. If you have any insight that would be great! Please see the screenshot below.

Thanks!

@Alex Alvarez awesome! I'm sure you've probably heard it 5 times by now then. But Rich Dad Poor Dad is a great book to get into if you haven't already. I got the audio book and knocked it out in 2 days. 

Welcome to BP @Alex Alvarez! Check out the Podcasts if you get a chance. There are definitely a lot of cool stories to be heard on there.