All Forum Posts by: Kirsten Milliken

@Nina Granberry #1 thank you for being a teacher to your students and the BP community.

I was searching “mastermind” and came across your post. It made my head explode! I’m committing to being on BP more to connect with others, learn, and invest more. I’ve added BP to the top of my list of daily to-dos between work obligations. I intend to make connections to facilitate my goal of 2+ new properties in 6 months.

I look forward to your updates

I currently own 3 SFHs, including my residence. I have an $80k heloc on my primary residence that I took out this year in February to purchase a rental property in IN. The property is valued at $160k. I am planning to move in May and want to buy a new home in TN.

I feel like there are a million variables to figure out the best option for financing my next purchase. Equity in my current homes, loan rates, savings, DTI, etc...

Other than summarizing my financial life on BP, who do you turn to for help identifying the best strategy?

I purchased a sfh in Indy in early March using a HELOC on my primary residence. I inherited tenants. They renewed their lease with a rent increase in September. Purchased for $80k. Current value is approx $163k

I’d like to cash out and invest in another property. I spoke to one lender who proposed a $114k mortgage at 3.25% with $8k in closing costs. That seems waaaay high. Any recommendations, input or suggestions to maximize cash out and minimize fees?

Forgive me for not being patient enough to find this information in another post.  

I am confused about mortgage options in my BRRRR situation.

I own a rental property in Indianapolis, which I bought in January using a HELOC on my primary residence. THe house has been rented since I have owned it. I now want to get a mortgage to pull some money out of this to pay off the HELOC and put a down payment on another property. I am confused about what type of financing I need to pursue. I keep seeing some loans I can only get for what I paid for the property. THe current value is nearly twice what I paid.

THank you in advance for your help.  

@Isaac Bazek thank you. We will contact you. I think we are going to be asking for quotes and plans from several contractors the first week in September.

@Earline Caudle. No, I think our current PM can do that.

We are looking for contractors who will share local references and are available to work the beginning of September. We own a property in the Butler-Tarkington area of Indianapolis. Renters are leaving and we need to update and improve! Any referrals are appreciated.

@Adrien S. The house is in Indianapolis.

We are trying to move my mom from Mendocino, CA to our house in Maine. Options where she lives for long distance moving are scant. I’m hoping someone on BP has a good suggestion or knows someone who can help. She’s looking to move in October.

I purchased an occupied rental in Indiana in February. The lease is up at the end of August and the tenants are moving out. The original plan was to go to Indiana and rehab the property ourselves.  But then you know what happened...COVID!  

The house has to be updated.  I bought it cheap knowing it would rent much higher with some improvements. This is the first investment house I have had to do any improvements to.  I own one other that came in pristine condition.  

We live in Maine.  I have a property manager whose team will do the rehab.  But I am always wary of what other people will decide in my absence.  Do I get multiple bids on the rehab? Do I just go and stick to the original plan? Any suggestions??