All Forum Posts by: Danielle Jackson

You're taking on a lot of risk, but sounds like you are aware of that and given your situation are ok with it. I would interview several GCs, and make it clear that timeline is critical. You won't be there to see daily progress, so will want to ensure some level of visibility (even if its Facetime or pics each day). Do you know anyone that can be your eyes and ears near the property, that you trust? 

Is it $500 just for you to see/walk through the property? 

What kind of investment journey are you starting? I guess why does it need to be customized, since you said you want simple, versus using a service that has templated pre-made sites? Especially since you plan to manage content yourself. The last thing you need is the backend to crash and then your hands are tied, and paying the web developer to fix it every time. 

Depends on the actual property you are investing in. Do I think you should start the search based on what you said? Absolutely! But you need to have actual properties you are looking at. Sounds like FHA is the right route (of course assuming your DTI works), and the numbers pencil out, then sounds like the right move for your goals.

Congrats on completing your first full cycle investment! 

I would get in with a local REIA. You should get great recommendations for the services you are looking for.

Great advice from @Steve Vaughan around gift tax. Make sure that basis is covered. 

With rates where they are, I would stretch my $100k. You will need to keep a little cushion for operating expenses. Hard to give much advice beyond that without knowing your end goal/strategy. 

I would consult with my CPA on what makes the most sense from a tax perspective. 

If I had the opportunity to do 2021 over again, what would I do differently? What did I accomplish relative to my 5,10,15 year game plan? What do I need to accomplish in 2022 to get closer to my short term goals?