All Forum Posts by: Kiera Underwood

@Jonathan Beemer Marcos is correct! If you do owner-occupant financing to get 3% or 5% down, you've got to be there a year before you can gain another owner occupant loan. 

@Sean Ruddell 

Good luck Sean! Curious if you've read Rich Dad Poor Dad? 

I'd develop criteria and jump into the first deal that meets it. I understand it takes some time to develop though! Any local meetup groups you've looked into?

@John Corey There's a BP episode that explains this perfectly! If I come across it I'll post it, but I'm in a similar boat. 

@Andrew Powers often normal agents don't know a lot about investment-focused numbers. I love to play off market and see the best deals there, so it might be worth googling for an off-market provider, or an investment-focused agent in general. Stopping by an investment meetup in the area and asking the most successful people there who they use to find deals might be helpful as well! I've got OKC connections, but sadly I don't in Virginia Beach!

I'm in the same boat as @George Pauley. I wouldn't buy for appreciation right now, but I'd buy for cash flow. I'd specifically buy in markets insulated to recession so that when property values drop, they don't drop as much. Because I'm holding, the value dropping isn't my concern, but the rent rate going with it is. In OKC the high cash flow C class inventory keeps it's rent rates even through recession, so I've got my eggs in that basket. 

I've got a local lender that takes intent in! What market are you looking at? 

@Andrew Powers If the numbers make sense to rent, go for it! I'd call a property manager or look on zillow to see what you could get for rent. Make sure to factor in some vacancy & maintence when you run your numbers!

You're able to have mortgages if you rent the first home because the lender will consider the income you'll make on the first house! 

@Josh Wilson the problems with those areas is that it’s already too late. You make your money in the buy, and they’re too hot. Sellers know what they have and the numbers often don’t make sense. It’s 100% worth it to keep your eyes peeled and to move very quickly if a deal comes up, especially on the fringes of those areas. I’d look ne of downtown, west of Penn for a better chance of snagging something NW.

I've got a friend with over 100 units. He keeps around 10 in each LLC.

@Andrew Powers I'd sell and house hack as long as the duplex numbers make sense in your area. It's hard to lose money on a house hack because you're getting an investment property for 5% down and likely reducing your living expenses. I'd just caution you to not jump into any duplex, but specifically, a duplex that you'll make money on when you move out! Then continue to house hack every year!