All Forum Posts by: Bryan Stengel

Hi Robert, I think it all depends on your investment goals. Debt is leverage and with that you could be able to jump into way more deals that way at once. Unless of course, you want to perform a BRRRR strategy in which case you could do that too. Higher percent down though might actually help slightly reduce the interest rate for you, but also allow you to keep some of your cash as well for other potential deals.

Hi Deirdre, I think you need to take both into consideration.  I prefer service over anything meaning a property manager that communicates with me whenever I have a question and is quick to solving any problems.  If get somebody inexperienced at a discount, you are taking a chance.  They could turn out to be really good.  With experience, they have the right systems in place and know what doesn't work. 

Hi Luca, it is great to hear that you are on your way to pursue your Real Estate License.  My advice is to keep your options open.  We have worked with Investors and they are never really married to their Realtors unless you happen to connect with somebody looking to do a long-term hold and actively trying to find a good realistic deal.  You want to put your effort in for somebody that is going to be reciprocal.  In my experience, we've had investors that aren't necessarily interested in looking with just one person.  Now, a family looking to buy their first home that is a completely different story.  It's not to say you should't work with investors, but keep your options open.  

I have to agree with @Jeff Langley you will save a lot of money and still network if you visit the STR page here everyday. In terms of networking, this definitely helps. You can also search your area to find investors who have similar interests. Save your money and put it toward systems built around your property. Trust me you'll need liquid cash from your STR. I am only speaking from experience, but I really learned a lot by working closely with my property manager who manages a lot of properties in my area. The caveat is that they only get paid as long as you get paid and you can constantly asked them questions as it pertains to your property. Ultimately, experience really is and always has been the key to the castle. If you get thrown so many resources and information at once, I feel it sometimes could leave you stuck without much willing action to take. This is just my personal take. Take the free resources provided here and on podcasts. Research your market of interest and do the analysis. Stay skeptical when presented with grandiose numbers too. Best case scenarios can happen, but often don't happen. Best of luck!

Hi Brandon, welcome to the Wilkes Barre Scranton market!  We utilize Buildium which seems to pretty organized and easy for our tenants pay their rent through.  Sorry to hear that your tenant went through that.  That is never easy.  

Hi Sharad, I would speak with the lender directly to see what your options may be. Normally, the transfer of a loan from an individual to an LLC will lead to a due on sale clause. I imagine you are doing this possibly for liability purposes. A while back I was listening to an older episode of the Bigger Pockets podcast back Michael Greene was still hosting and they talked to an insurance expert. You may always pick up Umbrella insurance on your property in your name in the meantime. I really did consider the LLC until my lender said it could not happen under my original loan.

Hi Josh, that is amazing! I would say try to save a little bit more. If I had ten thousand liquid cash to spend, I'd probably do a house hack two-family and obtain an FHA loan with only 3.5% down. I'd say if you saved maybe between twenty to thirty thousand dollars, you'd be in slightly better position. It doesn't hurt to go over the numbers with a lender though who could give a breakdown of what a closing might look like depending on your buy box. Overall, I think this would be the best strategy. A house hack for a primary residence for about two years and then you could repeat this again. It all depends on what your goals are. Hope this helps and best of luck!

Thank you @Michael Baum.  This is some good stuff

Hi Marc, I have not had to shop around yet for a new couch or bed frame just yet.  I did however had to shop for new dining room chairs, which broke almost immediately once we started to get up an running.  As @Michael Baum mentioned, you want to get wood for dining tables and chairs.  The material for my previous chairs that did come with the home were probably a pressboard.  They were very light and didn't last long.  I ended up buying a whole new set of chairs for the dining table at Home Depot.  The style looked very similar, but they were made with solid wood.  I really don't think they'll ever break.  The price I thought was fair for the quality and that assurance these ones were not breaking.  They were also very easy to assemble.  

 Hi Katie, do the tax benefits apply to just Real Estate professionals or could it also apply to regular full-time W-2 employees?