All Forum Posts by: Emily Hill

Hello BP family! 

I am looking to purchase an investment property in Nashville,TN in the next year. 

I’m brand new to the market and am looking to put together a team. I need a realtor, property manager, lender and perhaps an attorney that have experience working with out of state investors.

I am going to be refinancing my rental property in 6months and am hoping to use some of that money as a down payment for an investment home in Nashville. 

I’m also looking to find creative ways for a down payment, so any help is appreciated! I’m thinking of getting a personal loan to fund the down payment or perhaps get two different loans (one for down payment and one for the mortgage). Any lenders in Nashville have experience with this? 

Thank you and look forward to speaking with y’all :)

Emily

@Account Closed Hi Toria! Great question, I am in the same boat as you, kind of. I have a primary residence here in CA and just purchased my first rental property in MO. I’d like to kickstart my RE career and buy multiple homes as well. 

@Herndon Davis Hi Herndon! Wow, great info! I’ve never thought of using business credit I will have to explore this topic some more. 

Congrats on your real estate journey!

Take one thing at a time. Find the market that you want to invest in. 

Start building a team. I’d suggest finding a realtor first because they have all the contacts. They can send you a list of lenders to get you preapproved. They will most likely have a list of handymen, contractors, cleaning person, property mgmt etc. And if they don’t have these things I bet they can point you in the right direction.

Back to your original question:

If I inherited money I would buy a rental home with conventional financing and go from there. Start with the basics. See if you like being a landlord and if not then maybe flipping is your thing. You will learn as you go.

If you live in a pricey area, look at other markets. I personally invest in the Midwest because my money goes a lot further there. 

Good luck and pm me with any questions. I am fairly new to this as well!

Hi all! I’ve been debating on whether to post this or not....

My fiancé has been unsupportive of my real estate journey. I start talking about real estate and he just tunes me out And doesn’t say anything. I told him I just purchased my first rental property and he didn’t even say congratulations or great job babe! 

He’s the type of person that hates his job and does nothing about it. I believe that if your not happy in life, do something about it, don’t blame the world or other people.

I love him and have been with him 7 years (still not married) but don’t know if it’s time to cut my losses and move on. We have no kids and he lives in my home that I own. I am 30 and really don’t want to start all over trying to find another partner. 

Do I stay or move on? I’m just beginning my journey in real estate and would like for my partner to be supportive but don’t want to start all over at the age of 30.

@Louis W. I went through a similar situation with my step brother. Not going to go into details but basically he trashed the home, was giving neighbors a hard time,cops being called..almost got me sued...horrible situation. 

I would evict your brother, no questions asked. 

I tried being civil with my step brother but it got me nowhere so I had to evict him. There was no lease agreement at all. The eviction gal served him and He had 60 days to move since he had lived there for more than 10 years, there was no lease agreement and he was not on title and he wasn’t paying rent. She said he could’ve fought it and dragged it out (because good ole CA is tenant friendly) but he didn’t. He left within 60 days. Of course the house was trashed, fun for me, but he was out. 

Not sure how long your brother has been living there but if it’s not long, I believe you can evict him in 3 days if he hasn’t paid and there is no rental agreement. 

Fast forward two years later...he eventually apologized and we made up. 

@Gunnar Linden Long term, your home will appreciate even more and you will wish you would’ve held on to it. My dad bought his home for $80,000 in 1990 and we sold it two years ago for $500,000 and mind you the home was outdated too. Hold onto your home and use your cash to buy another investment property or do a heloc. 

Congratulations!! I am in escrow for my first investment property as well in the Grandview area, so not too far from you. Definitely an awesome moment, enjoy it! 

Great info, thank you @Chad Boyers! I am brand new to the market and plan on doing some more research. I notice you are a realtor in Ohio, let's keep in contact. Thank you.

Hello everyone! I have two questions for people that live in the Toledo area:

Is it possible to buy a decent home in Toledo,OH for under 30k?

I'd obtain a loan and would be putting down 20%. I've heard that some banks don't like to lend in small amounts like this? Is this true? What are your experiences? 

Thanks so much and have a great day!

-Emily

Being that your both young, she probably does not see the bigger picture with real estate at this age.

I would convince her to move into a multi family home and house hack for a year. That will get your foot in the door and will be a good compromise for both you and her.