All Forum Posts by: Zachary Ware

Hey Andrea,

I've learned that there are two different types of mentors. 1 is paid and 1 is unpaid. The unpaid will be more like a relationship/friend/family member/ etc. It is great to have someone like this around you but you can only ask so much of them. On the other hand, there are paid mentors who you pick to help you with specific problems. Many people sell this as a service, and some of them seem to actually be worth it. I would vet who you pick very carefully if you plan on getting a paid mentor. This is a great place to find mentors and also local networking events can be a great resource. 

Hey Mickey, 

What a turnaround, it looks great. What was the timeline and budget for this project? 

I see the same trend with 3-4 unit properties in and around Austin. It's hard enough to find a duplex that truly has cash flow when accounting for capex and maintenance. 

Great post Ryan! It's unfortunate that the PMI is stuck on FHA loans, but if you are getting a multiunit property, it can certainly be worth it!

Hey Tiff! Congrats on the recent closing. It sounds like you are in the right place. 

Block out the negative and go full-fledged into what you believe in. Being a RE agent is tough, and you have to put in a lot of work. But the people who tell you to be scared are the ones who never take action and will ask you how you did it if you are successful.  

I do not believe this should be considered commercial but there is typically zoning that allows for only single family and zoning that allows for single or duplex. I have not run into this case in particular regarding sprinklers but have seen different requirements for single-family and multifamily (1-4) units. 

I would recommend speaking with an insurance broker, possibly one that works in your area. You should be getting a landlord's policy which is specific to investment properties and you will not be required to live there. 

I would agree that net cash flow is great to have, and a requirement for properties I underwrite. You do need to account for capital expenditures such as roof, parking lot, plumbing, HVAC, etc. These are large expenses that you should collect and save money for over time. I also account for routine maintenance that will be needed and unit turnovers. 

I think many of us hit this same spot when starting out. All the media we consume makes it seem like getting into RE is a quick and easy path to becoming a millionaire. But the reality is, RE investing is a business and it is hard. You have to put a lot of time and effort in, especially when starting out by educating yourself and building a strong network. For networking, I would recommend trying to attend as many in-person networking events as you can. I would be happy to connect!