All Forum Posts by: Conner Olsen

@Dominick Galinis If you are almost done saving up for an FHA loan why would you need a private loan?

Hey @Richard Caldwell, most people would recommend you start residential to learn the ropes and then go commercial. You definitely don't need to follow that route! I would recommend getting around as many commercial investors as possible, go to meetups, take people out to coffee, etc. When you're getting started it's important to learn as much as possible and become an expert!

I have some equity I want to pull out of my property using a HELOC for the down-payment of a buy-and-hold investment.

Does your underwriting change when you use this strategy? How do you factor in the interest payments? Are you also trying to repay the principle or just make the interest payments? How are you conservative when using an adjustable rate for a down-payment? I was thinking adding 2% for the interest payments.

Any other advice is greatly appreciated!

Those numbers are awesome! Congrats!

@Marc Bernal I would try to house hack! Do you know anyone in your life that wants to buy an investment property in your area, maybe parents? You could offer to be the property manager for them and maybe pay discounted rent while you rent the rooms to friends. That way you learn the ropes of an investment property.

@Beethoven Penalo You can only have one FHA loan at a time, so if you haven't used it yet it's definitely an option worth looking into!

@Account Closed Exactly! The quality of tenants is extremely high and they take great care of the property!

Medium-term rentals are a great way to increase revenue in Austin. By furnishing your property and listing it on Airbnb for 30+ days you can double your rent. Supply of medium-term rentals listed on Airbnb has increased by 56% over the past year from 107 to 169. As home prices continue to rise and rents lag, I expect to see more MTR come to the market in the future.

@Mark Fitzpatrick I don't recommend selling unless you know what you're doing with the money, especially because inflation is eating cash away right now. Like John said maybe refinance or get a HELOC for your next deal. Depends on your strategy.

@Wes M. I always have 1 year open. The further out they book, the higher my prices are.