All Forum Posts by: Christine Wilcher

Hi,

I'm looking for some help to scale my portfolio faster. I've house hacked 3 times and I'm getting pretty tired of moving. I have a child and I also work full time. I just purchased my first duplex this year and currently working on the rehab. I want to do more deals in faster time without having to move every year. I'm not sure if I should partner with someone. My goal is to purchase an apartment building. Any help would be greatly appreciated!

Hi all,

Would I qualify for another FHA loan and potential grants if I have 2 rental properties in my name already? Would it be a good idea to transfer these rentals to an LLC in order to qualify? I like to purchase turnkey and use the house hack method. Looking for the best way to purchase another property with minimal cash up front. Any advice would be greatly appreciated!

@Stuart Udis thank you so much for the clarification! Also I use my LLC to manage my 2 rental properties.

Hello! I am curious to know. I have purchased 2 properties via house " hacking ". I purchase, do a light rehab and then rent it out after a year or 2 so I'm slowly scaling. I started an LLC about a year ago because I thought that was the correct thing to do but now I hear about this " corporate veil piercing " if I'm sued. Is it even worth is to have an LLC then if I'm going to scale this way? By the way I have not transferred either one of my rentals into my business name just yet. Both are still under my personal name and my banks are fine with me transferring them to my business name.

Hey guys,

I'm house hacking my 2nd home in South Jersey. I've been living in it over a year now and want to move closer to my job in PA.  I know NJ is not a tenant friendly state however I want to keep the house. I'm working with a realtor to list it and get me a good tenant. I don't see any rentals on the market for the price I'm looking for. I'm wondering how many months of mortgage payments should I have in the bank to keep the house afloat until rented. How long should a house be on the market for rent before selling?

Property is $57,500. Closing costs are over 5k.

Hello!

I'm purchasing my 2nd investment property and working with Truist bank. They are asking for 20% down and providing a 7.1% interest rate.   They are charging me 3.389% in points! I calculated 5% in closing cost. Does this sound reasonable? Lender says if I don't take the points I then need to put down 25%. Thoughts?