All Forum Posts by: Chase Kimbrell

@Pancham G.

That’s my dream!! Glad it worked for you!

@Jeffrey Masessa I feel like you should check out Graham Stephen on youtube. He basically did what you want to do, except he does residential rentals. But he started as a realtor as well.

It’s great that you’re motivated to do a plan like this. But I hope you know that you’ll have to start small and build up. Maybe look for Brandon Turner’s Book on Real Estate Investing or whatever it’s called, lol. The one with a blue cover. Anyway, he details a few plans for getting into it. I think for you, the best plan would be to house-hack until you have enough equity and savings that you can roll it into a down payment for your dream building.

@Erich Brown Just saw your comment, sent you a connect request. Thanks. :)

Well thanks for your input. I guess I’ll just proceed with a slightly shorter loan. Lol.

@Erik Whiting

Erik, that was basically my thought too, that it’s just a dumb thing he came up with to make it sound like he was doing something. Maybe the lender is taking this farther than it needs to. And Scott, I agree, I didn’t expect the roof to last longer than 15 years myself. I thought this whole thing was a but silly. My realtor and lender contact were really confused about the whole thing.

Just got a call from my realtor who was told by my lender (who tried to call but I was unavailable at the time) that the VA Loan Appraiser for my house said that the roof wouldn't last for more than 25 years, and that the lender's underwriters couldn't justify giving me a 30 year loan, just a 25 year loan. The extra amount I'll pay is only about $80 more, so I don't mind paying it. This is all in spite of the fact that the roof was replaced 3 years ago. Has anyone here seen a situation like this? If so, should I proceed with caution on accepting the 25 year loan, or should I challenge the appraisal?

So here is my situation; I’m moving to Albuquerque in January and I’ve got a duplex under contract. I’m considering Air BNB automation instead of long term renting for the side that I am not going to live in. I don’t have tenants yet, and I am considering completely furnishing the one side I’m planning to rent to accommodate 5 people (2 on a queen, 2 in the other room on 2 twin beds, and a futon in the living room). I think I could automate an Air BNB and make a killing with it. I’m just concerned with that process. What would you suggest? What sort of companies or individuals clean these things? Could I just call up any cleaning company and ask if they can clean every time I have a guest? Also, how do I automate management? I know the key lockbox trick, having stayed at one that had a lockbox outside. Is the booking management process difficult if I have another full time job? If you have any answers for me, please let me know. Please feel free to give me other tips as well.

Thanks for your responses, guys! It’s great to know that there are good pockets of neighborhoods. It does shock me that the market is hot there, but that’s what my realtor said too. I’ll do some more research and try to make something work. Thanks for the support.

@Jonathan White nice! Thank you!