All Forum Posts by: Christian Barth
Christian Barth has started 13 posts and replied 48 times.
Post: New Member From Minneapolis
- Real Estate Agent
- Minneapolis, MN
- Posts 55
- Votes 6
Welcome. You will learn a lot here as I have. I am also from minneapolis.
Post: flip or buy and hold?
- Real Estate Agent
- Minneapolis, MN
- Posts 55
- Votes 6
Originally posted by @Sam Byrd:
Consult with a good CPA. Ask them to help you compare and contrast the financial implications of both the flip and buy / hold strategies. I too planned on flipping exclusively, but have changed my direction to buy / hold. To be clear, I'm going buy / hold, rent, cash out refi.
The exact thing i am going through right now, but im leaning more toward a house hack or buy and hold now. Did you use fha on any properties?
Post: flip or buy and hold?
- Real Estate Agent
- Minneapolis, MN
- Posts 55
- Votes 6
Originally posted by @Logan Allec:
@Christian Barth I concur with others who are recommending that your first move be an FHA multi-family house hack, which leaves you with cash for other investments. If you go this route, keep in mind that there is a self-sufficiency rule for 3- and 4-unit properties funded with an FHA loan. 85% of the market rents on all four units need to cover your monthly payment (principal, interest, taxes, insurance, and mortgage insurance). I put together a spreadsheet to help potential house hackers quickly analyze whether or not a property qualifies. There are other FHA requirements concerning which you should contact your local lender, but determining whether or not a triplex or fourplex meets the self-sufficiency rule is a good place to start as this rule will immediately eliminate many properties from your search. Let us know how everything goes!
Ok i understand. Thank you for the info. That rule will definitely wipe out many possibilities. This doesnt apply to duplexes though right?
Post: flip or buy and hold?
- Real Estate Agent
- Minneapolis, MN
- Posts 55
- Votes 6
A big reason I want to get into rei is because I have carpentry background and feel my skills in carpentry could make me a lot more money in investing than working for someone else. I appreciate your input. This is something i have been going back and forth with.
Post: flip or buy and hold?
- Real Estate Agent
- Minneapolis, MN
- Posts 55
- Votes 6
Hi everyone my name is Christian im 21 years old and looking into investing in real estate. One thing im having trouble with is whether I should flip my first property or do a buy and hold. I like the flipping aspect because it would give me a way to produce capital quickly to invest into other properties. On the other end i think a buy and hold could also be beneficial because if i bought a duplex i could live in one unit and rent the other out. If you have any input or have gone through a similiar situation i would appreciate your two cents. Thank you!!
Post: aspiring investor in need
- Real Estate Agent
- Minneapolis, MN
- Posts 55
- Votes 6
Hi my name is Christian. I am curious as to how i would go about getting funding for an investment. I would like to flip a house or buy one to rent. I am 21 years old with virtually no credit I did take out a loan at 18 and paid it off. What is your guys' input? If you were a young investor or are a young investor how would you go about putting a deal together. How would you approach the situation? I do not have a job at this time I am going to school full time.
Post: crunching the numbers
- Real Estate Agent
- Minneapolis, MN
- Posts 55
- Votes 6
yes thay definitely helps and I really appreciate the feedback. Im so happy i found this sight. Im looking into doing rehabs and flips, but may try to start out wholesaling to build capital. Thank you again!
Post: crunching the numbers
- Real Estate Agent
- Minneapolis, MN
- Posts 55
- Votes 6
Hi my name is Christian I am 21 years old from Minnesota. Im new to the site and to the world of real estate investing. How do I put numbers together to see if a property would be a good investment? Im in school for carpentry and am in the process of getting my real estate license. Im trying to get a jump and understand the business more. Any replies would be appreciated. Thank you!!