All Forum Posts by: Cody Barna

@Kiesha Curtis what are your plans in terms of budget? Being that a construction loan is typically short term, have you determined a time frame for the construction?

@Account Closed it really depends on your lender, if you build a good relationship and become a trust worthy borrow then getting multiple loans may be possible. Worst case scenario you purchase your first property using conventional financing and hard money/private money for the next, unless the first deal has enough equity to use a cash out refi or heloc.

@Jonathan Anderson you can look at their previous tax returns, also you can ask for their bank statement but they may have the right to refuse.

@Ryan Cleary all new agents go through it, every top producer started in the same position. I highly recommend finding a successful agent that's active on social media, study their content and determine if it resonates with you. Here's a few popular coaches/agents....Tom Ferry, Kevin Ward, Bryan Casella, Ricky Carruth. From there start implementing the strategies and techniques that they used to grow their real estate businesses. That'll consist mostly of cold calling, door knocking, internet leads, social media marketing, open houses, etc. There's no reason to reinvent the wheel, these are all great ways to generate business if you stick with them long enough. Within these methods there's ways of getting more creative such as calling specific demographics, in your case multi-family owners. Hope this helps, good luck!

@Ruth Moynihan it may be a good location for short term rentals considering it's proximity to summer and winter activities. I'm curious what drew you to Ossipee?

@Dave R Ludolph I definitely think there's some situations where it makes sense. For example if someone lives in LA or NY and their rent is $3k per month, it may be beneficial to house hack even if they break even or pay a few hundred out of pocket every month. As you mentioned you'll also be able to take advantage of appreciation over the long run, in addition to other benefits that come with owning RE.

@Kettly Soivilien the biggest thing would be finding out what rules and regulations the HOA has in regards to short/long term rentals. What's factors are attracting you to townhomes compared to a single family?

@Christina Kang no worries, best of luck with everything! I plan on relocating to Arizona at some point in the future.

@Christina Kang I'm not extremely familiar with that location but something to consider is the demographic for that area, what kind of people are looking to purchase there. If you were a potential buyer would you be interested in renting a home in one of those neighbors? If the cost to buy is relatively close to the cost of renting, would it make sense to potential buyers. It tends to be more attractive to young professionals to buy a home in those newer built communities. A family with two children will most likely be happy with a 3 bed, 2 bath home until the point that their kids leave home. That's why it's common to see a higher demand for studios and one bedrooms because the cost to rent is drastically less than buying a home. Hopefully this makes sense, just something to consider.

@Merlin Erickson no worries!