All Forum Posts by: Billie Miller

When I lived in DC the red line into MD was not great at all. My coworkers who had to take the red line were late all the time due to delays. Where are they building the new one?

I don't know that area as well as I used to, but I would say the property next to a metro stop would still be valuable. But like @Everett Fujii said, maybe not as valuable as it used to be.

People in the suburbs taking UBER and Lyft still have consistent routes they are traveling, regardless of who takes them there. So maybe pick properties that are near metro stops but also near main streets used to get into DC?

Because passive income from a variety of different sources (multiple rentals) is more stable than a single W2 income source.

Also, we don't want to have to work 9-5. We want to spend our time with our kids!

Congratulations! How did you find this deal? Loopnet? Real estate agent?

@Quinton Slay I wouldn't put granite in my rentals, ha. But they are borderline B/C class properties. If I had a luxury condo for rent downtown than I probably would. I just used that as an example I guess.

It's going to be hard for you to invest in the traditional way (either buying rentals or flipping) without W2 income. However, like many of the other posters have said, that doesn't mean you can't reach out to investors in your area and offer them help in return for education. It could be as simple as driving for dollars or sweeping the floor of their current flip.

Then when you are able to get financing for something, you'll have the knowledge to make a good investment. 

We are running into the same problem in Denver. High price to rent ratios are so tough!

We are looking into southeastern WY or turn-keys right now. Is there a community close to you where the numbers make sense? That could be an option too. Not so far as turn-key but maybe the numbers would make better sense.

This would take some work, but maybe you could show her the advantages of house hacking in real numbers? 

So show her your budget if you house hack vs. your budget if you buy a single family home. Then take it a step further and show her home much you'll be making in rental income when you move out. 

Also, on the amenities front. Maybe just let that one go for now. When you guys do buy a house and she starts to see how much the granite countertops cost vs. the laminate (or whatever the amenity is) she might realize what's reasonable.

http://www.dailymail.co.uk/tvshowbiz/article-45921...

I mean I guess I get it. You need space for your in-home NICU.

JK, that is insane. I wonder how long their final walk-through took. 

Cody, yes that's right. It's not common, but I have heard of a few cases of notes being called. Brandon Hall and a few others have theorized that we might see banks calling more loans in the future when interest rates start to rise. When interest rates rise, not as many people can afford to buy a house. When fewer people can afford to buy a house, loan officers start feeling pressure to make more money. One scenario is that they start looking at the loans with low interest rates that they can call and then turn around and lend at a higher rate. There's nothing saying that this will definitely happen, but I guess I wouldn't be surprised if we start to see it happening.

We did this with our house hack. It's making us a little nervous now with interest rates rising. However, we hope that if this does eventually comes to pass, we can just sell the place quickly, or come up with enough cash quickly to pay off the mortgage.

There are a bunch of threads talking about the pros and cons of this. I feel like Brandon Hall talked about it in his podcast, but I can't remember for sure where I heard it.

If you are planning on house hacking then I wouldn't start with an LLC. One of the huge advantages to house hacking is that you can buy a rental property with owner occupied financing, which is some of the cheapest money you can get. You can always quit claim it to an LLC after you buy it, but there are some risks involved with that as well.