All Forum Posts by: Sean Cabrera

@Sean Cabrera 

Welcome to BigggerPockets! Below are some links to get you started. Much success to you!

I received this info from @Nathan Sharp when I first started.

http://www.biggerpockets.com/renewsblog/2013/01/04/how-to-rent-your-house/(house rental guide)

http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/(how to buy a rental property)

https://www.biggerpockets.com/renewsblog/2013/11/02/hack-housing-get-paid-live-free/ (House hacking)

https://www.biggerpockets.com/renewsblog/2014/03/13/investing-multifamily-ben-leybovich/ (Podcast 061 - How to succeed in multifamily investing)

https://www.biggerpockets.com/renewsblog/2013/04/09/how-to-buy-a-small-multifamily-property/ (How to buy a small multifamily property)

https://www.biggerpockets.com/renewsblog/2015/11/16/how-to-choose-areas-multifamily-deals/ (Choosing multi-family deals)

http://www.biggerpockets.com/renewsblog/2014/07/19/how-to-buy-a-duplex/(guide to buying a duplex)

https://www.biggerpockets.com/renewsblog/2013/12/12/bp-podcast-048-duplex-managing-tenants-darren-sager/ (Duplex investing)

Now that you have made the move, below are some links that will help with the navigation of the site.

• http://www.biggerpockets.com/starthere
• http://www.biggerpockets.com/meet
• https://www.biggerpockets.com/alerts
• How to Use @Mentions on BiggerPockets
• https://www.biggerpockets.com/rules
• https://www.biggerpockets.com/terms
• https://www.biggerpockets.com/invites
• https://www.biggerpockets.com/perks
• https://www.biggerpockets.com/forums/categories
• https://www.biggerpockets.com/rei/glossary/
• https://www.biggerpockets.com/webinar

https://www.biggerpockets.com/courses/a-beginners-introduction-to-real-estate-investing (video courses)

https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)

Before your 1st purchase, please ensure you visit the below link for some tips.

https://www.biggerpockets.com/renewsblog/2014/12/19/real-estate-investing-success-smart-tips/

REI books suggested by BPers

https://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REIs)

http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?utm_source=search&utm_medium=internal&utm_campaign=books (books recommended by BPers)

Simply, expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.

Continue to feast on the BP Podcasts, #askbp Podcasts, BP blogs and BP webinars.

@Sean Cabrera, in my opinion, house hacking a 3- or 4-unit property using FHA 3.5%-down financing is in my opinion the best option for a young person looking to get started investing in real estate. It frees up so much cash (if you have it) to invest elsewhere.

One thing to keep in mind when looking for an FHA owner-occupied triplex or fourplex is that 85% (75% in certain states) of the market rents on all the units need to cover your monthly payment (principal, interest, taxes, insurance, and mortgage insurance). This is known as the self-sufficiency rule. It only applies to 3- and 4-unit properties (not SFRs or duplex) bought using FHA financing. I put together a spreadsheet here to help potential house hackers quickly analyze whether or not a property qualifies. There are other FHA requirements concerning which you should contact your local lender, but determining whether or not a triplex or fourplex meets the self-sufficiency rule is a good place to start as this rule will immediately eliminate many properties from your search, especially in expensive markets like ours.

Good luck and reach out to me with any questions!

Hey @Sean Cabrera Welcome to the site! Definitely start jumping into the community here! You should check out the weekly BiggerPockets Webinar hosted by yours truly! They’re fun!

I would get out of consumer debt (if you have any) and hustle to start some savings. Dave Ramsey helped me get squared away in that department. I do use debt for investing however (he would be so mad). I house hacked without knowing it and it worked for me. No money down is possible buy i haven't done it. FHA financing for a great deal with low down payment then take in some roommates maybe. Just one option. Good luck!

Read read read read read! (Which it sounds like you're already doing). 

Online, library, Amazon ~ whatever you can get your hands on. It's the only way to "learn the language" and start connecting the dots. 

With a million markets and rei niches out there, it can be overwhelming. The more you expose yourself to different contexts and perspectives, the better off you'll be. 

In the end, focus on the basics and go from there. 

Assignment #1: Learn how to evaluate a deal. 

Happy investing! 

Hey Sean! First things first, what kind of real estate would you like to get involved in? Real estate is a vast world and has many different aspects including but not limited to, wholesaling, flips, rentals, etc.