All Forum Posts by: Conner Olsen

I am trying to grow my portfolio and see if Kokomo, Indiana will make sense for MTR.

Hi,

Hello! Been listening to BP for awhile, and the gears are really turning at this point. 

Background: 28, engaged, $150kish in joint gross income, and bought a home 3 years ago utilizing Indiana's down payment assistance program. That lien falls off tomorrow. 

Owe roughly 188k on the house (3br, 2ba 1600 sq ft .86 acres brick ranch non hoa neighborhood 3.5% rate $1350 a month payment including mortgage, taxes, pmi, ins, etc.)

I really want to purchase our first investment property, but not sure what to do. I like the idea of a flip using hard money and a private investor which i could find relatively easy, or on the other side buying a single family property in the area and renting out the current home which i think could cash flow $600ish a month.

The issue is not knowing the best route to go to get the funding on the single family purchase. Cash out refi could give us $60kish i think for a down payment, but that would essentially make our cash flow on the current home go to zero, or possibly even the red. Is it a necessary evil to refi into a higher interest rate to get cash and be able to utilize an fha on a new property? 

Also, ALL liquid cash is tied into a wedding rn, so the refi could also give us a decent emergency fund regardless of the higher monthly payment, which would not be a big financial burden to us. 

All advice is much appreciated!

Hi I struggling to find properties in my area that will actually cash flow positive with all the recent rate hikes for a rental property loan with 25% down I am still looking at 7.99 with a point. Am I better off waiting for a rate drop or till I can put more down?  Or should I start looking into other strategies. Right now I only have enough to look at condos which don't have much appreciation due to my price range.  

Hello BPers, long time reader, first time post-er :)

Question to the group....I am going to allow pets in my mid-term rental.  It is a quad-plex with a shared courtyard (duplex up front, up-down in back).  I'm in Florida, so the flea potential is real!  How do you mitigate against the potential of a renter that brings a pet(s) with fleas?  Is there any language in your lease agreement about prevention?  Also, should I do a basic off-the-shelf flea bomb after every stay and treatment in the yard a couple of times a year?  I don't want to fumigate one unit with the other unit occupied if it causes fumes. 

Any insight is greatly appreciated.

#MTR #STR #FLEAS

Hello, I am relatively new to Austin and looking to acquire an investment property here. Would love to connect with local realtors who have experience with investment properties.

Over the past few years, we have seen a huge market shift in the Austin, Tx market. From skyrocketing house prices, high-interest rates, and the changes to operating an STR. I am interested to hear your strategies due to all these changes. Are you currently investing in Austin? What type of strategy are you going for while investing in Austin? What is holding you back from investing in Austin? What type of strategy are you seeing as the most successful? I am excited to hear all of your responses.