All Forum Posts by: Lewis Kutschbach

@Khoi Le Thank you I appreciate that!

@Hope Hatton very true! This pandemic has changed a lot of things, but I feel that now is the best time to acquire real estate. Interest rates are fairly low and real estate is at a decent price too!

@Jens Nielsen Thanks for the advice. I looked on Trulia, but I will definitely look on Craigslist as well!

@Khoi Le Thanks for the advice! I did forget to mention that I have a 10 month old daughter that’s stays with me. So I would like to find a place in a very nice area of town, so I can attract decent tenants.

The UNM area would be great! I just don’t necessarily want frat boys living in the house with me and my little girl. If i was living alone, I would absolutely be looking in that area!

Hey Guys,

I have a question about renting out rooms specifically in Albuquerque New Mexico. I’m looking for advice from someone who has experience renting in the Albuquerque area.

My goal is to acquire a single family home under an FHA loan in the NE Heights here in Albuquerque. My question is should I rent out the spare bedrooms? Is there even a market to rent out bedrooms in Albuquerque? I know this would be a great option if I were to buy a property near UNM, because than I could rent to students.

My concern is that there won’t be a demand for people to rent rooms, since studios and one bedroom apartments in Albuquerque are so cheap. The price I’d be trying to charge is 500-600 a room. However for around that same price, someone can have an entire apartment to themselves.

What do you think?

Thanks

Hey Everybody,

I have a basic question. I'm new to real estate investing. In the near future I plan on buying a distressed single family home via FHA loan and renting out the bedrooms.

My question is once I renovate the home and forcibly appreciate the home value so I have at least 20% equity, how do I get the bank to re-appraise the home and remove the PMI I have to pay?

I know this is a basic question, but like I said earlier I’m new to this! Any tips would be greatly appreciated!

Thanks

Thank you all for the suggestions I appreciate it.