All Forum Posts by: Lauren C.

Hi @Ty Martin I don't have any properties to recommend but I'm currently house hacking in that area (Haddon Township) so let me know if you have any questions! Good Luck!

@Liz C. Think about your target tenant. Most likely a student or someone in an entry/lower level job who commutes to the city. Are there any university Facebook groups or forums you can post the listing in? School already started so maybe transfer students.

This is a little old school but what about hanging a flyer in a nearby gym. I always see ones at my gym and think it's a smart way to attract a tenant. 

Good luck! 

Hi @Johann Jells I would first call your insurance company and see how much your insurance would go up. We wanted to add a second floor deck to one of our rentals and the extra insurance costs helped make our decision. 

Good luck!

@Wil Reichard Good idea! That would make a great little coffee table book!

Hi @Zack Tremere I would highly recommend reading @Brandon Turner's book, The Book on Managing Rental Properties. It's a step by step guide for everything from advertising and screening to collecting rent and evictions.

Good luck!

So interested in this! Accountability is huge and if you don't have others to "report" to more or less, it's easy to fall off track. 

Hi James! I just closed on a HUD duplex in South Jersey (right outside of Philly) at the end of May and am house hacking as well. I've been writing all about the process. I'll DM you the link.

My question is, why focus on one over the other? You can find good deals on both the MLS and through HUD/Homepath so I'd so don't limit your options.

I went through HUD and took advantage of the owner occupant period and benefited really well.

Feel free to send over any questions! 

Hi @Adam Bradley!

It's different for every bank. I closed on a duplex this past memorial day weekend, am currently rehabbing it, I don't have a tenant in (I am owner occupying though) and am in the process of doing a cash out refinance.

I called about 8 or so banks. Most required 6 months seasoning, some didn't care about the time, but cared about the renovations and so they wanted receipts of all of the work that was done, and then I found one bank, whom I'm now working with, that didn't have a seasoning period at all, as long as the property appraised correctly. 

I recommend just getting on the phone with banks and asking. 

I'm going to DM you a post I wrote about the process I'm going through for the cash out refi. Hopefully it's helpful.

Thanks and good luck!

Hi @Christopher Giannino I'm using Garden State Home Loans. I posted a link to a post that I'm documenting my experience with them but it seems to have gotten removed. I'll DM you. 

Hi @Kim Forgione

I used conventional financing on my rental property and am in the process of doing a cash out refinance. I bought the place for 117K, put about 55k into it, and am planning on cashing out 30k. I could cash out more, assuming the new appraisal comes back north of 180k. 

My closing costs are about 2k but the new loan has a lower interest rate.