All Forum Posts by: Celine Crestin

I've been using Hard Money Loans and Conventional loans to fund my fix & flips and buy & holds

Yes, it's called Hard Money or as others mentioned can sometimes be referred to as private lending. 

Yes, it's possible, but it varies state to state. You also will not be "allowed" to use it to serve others unless you have a knowledge and expertise in the area you want to serve. ie - if you're originally from Tampa, FL, but recently moved to CO and want to help people in Tampa, you could probably get away with it if you still know the area...but probably not if it's been 20 years and you no longer could be considered an area expert. 

You can get it to represent yourself in other states (given that state allows you to get your license), but keep in mind it costs money to get and maintain a RE License and it very likely will not be worth it to you.

Hope this helps!

Great job!

Lack of communication and transparency between lender and agent. It's difficult for agents to mitigate issues without knowing the full picture. We need and want to help keep everything running smoothly and help our clients remain calm; the more info the better.

I also dislike when lenders go direct to the client or listing agent with an issue that is easily resolved, as they often don't communicate it in such a fashion as to keep everyone with level heads. I prefer to be the person disseminating the information in most cases.

I've been using Fundrise since 2020  - as an experiment into another stream of income for later in life. I'm in the long term growth plan, as I have no interest in pulling my dividends out at this current time. I earned 8.9% returns in 2020, 25.4% in 2021 and current is 4.1% for 2022. I don't think anyone should solely use Fundrise and no other investment strategies, but I do think it's solid so far as one of the methods you use. 

Would you be able to increase rent when their lease is up? If so, consider doing a HELOC or Home Equity loan to tap into some of that stored appreciation and use that cash to fund another investment while continuing to hold your current property.

I have helped several investors get into the San Antonio market for the exact reasons you mentioned above. It's a lower price point for you to get in as an investor and we can generally find a place where the numbers work on long term rentals. That being said - SA is huge and not all areas are equally strong in regards to rental prices and appreciation gains. Feel free to PM me if you'd like any additional insight. Best of luck with your investing journey!

I do not provide a washer & dryer and I rarely see rental homes that do. If you do opt to, I agree with @Drew Sygit - put a clause in your lease that they are as-is with no warranty or maintenance provided. That way you are not on the hook to replace or repair should either break. 

Great question! I recommend interviewing 2-3 agents in your area and choosing one you feel most confident with. Ask local friends/family or other trusted contacts in your sphere for a referral. Even if you do not live locally, someone you know knows an excellent Realtor in the area of your property (I know Realtor partners all over the country and frequently connect clients). 

Experience is only one piece of the puzzle FYI. I know many brand new agents who work 5x harder than experienced ones and lead to an outstanding service model for their clients. When interviewing, definitely ask what their marketing plan is. Yes, homes are selling fast, but marketing still matters! Professional photos are a must. 

What supports do they have in place to communicate with you and potential buyers? Will they be proactively searching for buyers daily or just placing a sign in your yard and waiting on someone else to do the work? How long on average do their listings take to sell and for what price (asking, 5% over, 10% over, 5% under)? 

Above all - do you feel comfortable with them and have a good report? You will need to work with them for a bit of time through what can be a stressful transaction at times - you want someone you feel confident and comfortable with. 

Hope this helps and best of luck!