All Forum Posts by: Wayne Kerr

I personally like the idea of waiting and doing a small MFH - no deal is better than a bad deal and waiting is a strategy. It also sounds like capital is a concern - save up, run numbers, analyze areas and properties - that in itself will take around a year. So you'll be learning and saving for a year or so. There's no need to rush - quality > quantity. 

This strategy will allow you to house hack (if you choose) do an FHA (you will have PMI - I think for the entirety of the loan if you don't put at least 10% down) and possibly get a better interest rate (I don't think rates will increase in 2-3 years).

Also MFH tend to cashflow better than SFH (especially when it comes to low down payments). The risk is less - since one unit being vacant is less than an entire house being vacant.

If you go the SFH route - just get a started home in a good location. Ideally something slightly distressed or something you can add value to. I would personally do a live in flip (small cosmetic rehab), fix it up then sell it after a year - roll that money into a small MFH (or rent it out if the cashflow is good enough after accounting for all expenses).

"Passive" Income 

There's not that much that's passive about it - finding properties, negotiating, analyzing, managing the rehab w/ contractors/subs and scheduling - once all this is done the management side is a lot easier I find. 

I personally don't want to PM - but I like the business. Emergency number. Online portal for maintenance requests. Annual inspections. My nice places are honestly pretty quiet. The "affordable" places require the most 

This post doesn't even make sense. There is zero causation between political views and evictions. 

You can't even correlate it because there are so many other factors to consider...

@Mark Sullivan

You would simply just do a conventional loan - it doesn't need to be a primary residence for a conventional loan. You may be thinking of an FHA type loan - that would need to be your primary residence.

Downside of conventional loan - sure it counts towards your DTI (i wasn't particularly worried about this). Now...the loan is in your name as well - after you close simply transfer the property to your LLC. Viola

The best time to plant a tree was 20 years ago. The second best time is now.

Quote him and let's see how far off I am. Bet it's not much

 I'm currently undergoing a transition in my personal life. Please don't single me out based on my name as this is both sexist and transphobic.

Would you like pictures as proof??

@Scott Trench

Would you mind having someone look into this for us? We are having reputable posters with years of valuable experience and insight leaving the forums due to a moderator. Moderators should be in the background - not policing based on their politics

1) Location

2) Equity Capture at the buy

3) Cashflow - most of this gets eaten by some form of expenses over time

Quick update- I'm beginning to transition...but not in the way you might think...

I'm beginning to transition into the asset itself. I'm moving like the asset