All Forum Posts by: Becca Summers

@Andrea Nielson Congratulations on your first property! That is the first step so many never take! BP is a great place to learn tons from others. I love coming and getting thoughts on running my portfolio. My husband and I have a few properties in Utah County and are trying to get to the point where our rental income is higher than our current income. Welcome to the group happy to help however I can!

@John Williams I just had a client close one of these loans in 30 days. They used their home equity line of credit for the down payment that they also did with Mountain America at the same time. For them they were first time investors and bought a home that was already tenant occupied which I'm sure speed up the process. They gave MACU the rental contract which they were able to count towards income. 

I have another buyer just about to start this process again! Awesome loan but hard to cash flow huge numbers because the interest rate is about a .5-1% higher and the origination costs are a bit more. It's a good way to get into the market with less money down as most lenders require the %20-%25 down.

@Michael Douglas Christensen Welcome! My husband and I bought our second rental property with the BRRR strategy before I came to bigger pockets and found out it had a name. It's a great process, I'd be happy to tell you more about what we did. What areas are you looking to invest?

@Jared, I just had a client close with this loan today. It is a great product. they used a HElOC for their down payment so essentially bought the property with no money down.

Andrew, it sounds like you have a great start with your current job analysis numbers so the transition to real estate shouldn't be to hard.

Ana, we are all desperate for good deals. If you take your time and resources to find them you'll be able to find an end buyer. I think whole selling can be done you just need to know your numbers. I get tons of emails each week with different wholesale "deals" I would never touch. If you want to add me to your list for cash investors (it's really hard money) I'm always looking and have some aggressive goals this year to hit. 

Welcome! Bigger Pockets is an awesome resources. So much free learning that can get you so far! I'd love to connect and help you with anything you might need help with.

@Todd Smith Do you already have the property tied up without an approval? 100K sounds like a great spread, congratulations it's a great place to start! When you say private lender are you looking for hard money? 

@Cody Mortensen  Welcome to the group! Northern Utah County is where I live, work and have my rentals. What type of properties are you looking for? My husband and I bought our first two properties by house hacking. We took advantage of a 0% down loan the first time and then a 5% down loan the second time but spend quite a bit renovating. I'd love to be a resource if you have any questions about the market.

@Clinton Miller That sounds like a great plan and use of your current income. I'm a Dave Ramsey fan myself he really does teach some great stuff. 

Chase you've found a great place to learn!! Everyone I've met has been super friendly and help full in answering my questions so I try and pay back by helping others.