All Forum Posts by: Austin Youmans

@Shane Short,

It comes down to what is the best investment? 

What is your interest rate on your credit card?

What return will you get on real estate while not forgetting to add in other costs like vacancy, capex, repairs, PMI?

Also double check your mortgage payment as I think @Shiloh Lundahl is right.

Hi @Travis Nebeker,

Sounds like we have similar history and goals. 
I am still working my day job as a project manager as I am a civil engineer.

I got my RE licence and just finished my first BRRRR property.

Let me know if you have any specific questions.

Hey @Account Closed,

I just did a BRRRR and am in the middle of my refi.

I talked to multiple lenders and most will do 6 months for seasoning. A few said they needed 1 year buit obviously i went with one that offered the 6 months.

I will try to come if I can wrap up a meeting I have scheduled. 

Hey @Shane Short, Sounds like you will want to look into an FHA loan to get a low down payment. This does have extra monthly costs, PMI, but it will let you start out with a smaller down payment.
I did this for my first investment and it worked out great. 

You should talk to a lender to make sure you qualify for the loan.

Also, start running numbers on properties you see. This will make you feel more confident when the time comes to actually start making offers. 

Hey @Brandon Knight, Sounds like we are looking to make the same transition as i am in engineering now and looking to get into real estate full time..
let me know if you have any questions.

Hey @James Lathrop, how is the search going?

This is a great community to learn through. Let me know if you have any questions.

Hi @Sarah G.,

I would go multi family as it provides safety in numbers and generally more cash flow. You can also get an owner occupied loan on up to 4 unit property. 
Let me know if you have any questions as I am in the vancouver market.

I would go with the area you know the most about assuming it is an ok market. 

I have not bought out of my market but have thought about it. I tend to look at a few criteria first. 

Cash on cash return

Population growth

Crime rate

Connections to area - meaning who is going to help you manage, find deals, maintenance and how often/easy you need to/plan to visit. 

How about a good deal on a duplex and have your mom live in half of it while using rent on the other side so supplement your moms payment.