All Forum Posts by: Leif Oldert

Thanks @Sean Thompson @Jayson Cain and @Sean Sloop!

Unfortunately it looks like this deal is going to a family member instead of us, which is a shame. Five adjacent AirBnB’s that net $240k/yr would’ve been nice. We were partnering on it with a friend, but 50% of something is better than 100% of nothing. 

Back to the drawing board.

Thanks @Account Closed! 

@Leif Oldert

@Andrew West

Opportunity to purchase a portfolio of 5 neighboring residential properties. Is it possible to bundle them into a commercial loan? Or does each property require a unique mortgage? Seeking advice on options, both conventional and creative.

We just secured a HELOC on our first property (which is in my wife's name).

Can having both of our names on the HELOC affect our mortgage leapfrogging strategy? We want to make sure we are setting ourselves up for success when we go to purchase our next property, which will be in my name.

Here’s the breakdown:

Property 1- mortgage is in wife's name; both of our names are on the title; both of our names are on the HELOC.

Is this proper practice for BRRRRing? Or is there a differing practice that you would suggest? Thanks for the feedback!

Hi Cherie, thanks for reaching out and providing your contact. I’d be happy to learn about your personal investing and professional experience.

Be in touch,

Leif 

Hi Saaed, thanks for reaching out. I’d love to meet up sometime when we make it back for a visit. 

Until then, we should keep in touch. What kind of investing do you do in RC? How’s the market there?

PS- are you a Chfc or CFP?

Best,

Leif 

Hi BP community - I am newer BP member and wanted to introduce myself. I am just finishing a year long rehab of our first house hack (my first complete reno) and am looking to begin the next steps of our buy and hold journey.

Our 5 year goal is to develop a ‘passive’ income stream to create financial independence by growing a buy and hold portfolio of multifamily residences. I spent 15 years working in the Nonprofit world of housing, homelessness and mental health and my wife still works in the homelessness arena at our local homeless shelter.

I plan to utilize the BRRR methodology and am looking to build my team of trusted partners. I would like to begin investing where we live, Salt Lake City, and then would be happy to progress to other out of state options once I become more familiar and proficient with deal analysis. I grew up in Rapid City, SD and would be willing to explore investment options there as well.

To take the first steps I thought I would introduce myself.

Thanks for the help and here’s to the journey.

Leif Oldert

@Mandar Ambre Congratulations! I am brand new to BP as well and have set the very same 5 year goal. Well done on getting the first property under your belt!

@matt 

@Matt J. thank you for the thread link. I’ll head over there to study. Much appreciated