All Forum Posts by: Cole Simpson

Awesome time to invest Mike. 

I love the Rock Hill market.  I would encourage you to start trying to build a team: 

1. Deal Finder 

2. Contractor 

3. Property manager 

4. Lender 

This was the biggest obstacle for me when I started investing, and once I built my team things got a lot easier. I wish you the best on your journey>

I always tell people to look into other investment strategies and other markets if you cannot find anything in your market.  I personally believe action is always better than inaction.

Is the home free and clear?

The pros are you can usually charge a pretty good interest rate, you no longer are responsible for the payment, and if they default you get the house back and keep the money. 

Investing out of state is a really powerful tool,  I recommend David Greene's book Long Distance Investing as I think it gives good guidelines.  Overall the idea is to build a team in that market as your "boots on the ground".  You will need:

1. A deal finder (usually an agent or a wholesaler)

2. Property manager 

3. Contractor 

4. The Lender 

This article: https://www.biggerpockets.com/...is not as detailed as the book but is still very helpful.  I wish you the best in your investment journey!

Awesome Shideler.  I love house hacking, I recommend it to a lot of my clients and have done it myself, getting rid of your rent is a powerful tool for investing.

You would not owe the realtor payment.  It would be different if you had gotten a full asking offer but because it was listed for months and you have no suitable offers then there is nothing else to be done. 

A lose lose for everyone I am afraid.

I would probably rent and pay off your loans in a year.  Good luck to you.

Not quite, you wouldn't do gross rent received as your return, you would subtract the mortgage payment, and capitol expenditures, and vacancy.  So here is an example from one of my rental properties. 

- House Down Payment 17k 

- Rent Received 2000 

- mortgage payment 900 

- Capital expenditures 100 

- Repairs 100 

- Utilities 200 

- Taxes 200

- Cashflow 500 

6000/17000 gives me a return of about 35%, that also does not include tax deductions and appreciation. 

Lo Ciento sobre mi español, mi gramática falta mucho.  Esto es el sitio web https://nclbgc.org/faq-contrac... a aplicar. Si necesitas mas ayuda mensaje mi por fa.  Buena Suerte Pablo.

@Daeun Lee . No I was saying can you use hard money and BRRR out of it or use delayed financing to get around your income.