All Forum Posts by: Lisa Smith

I was away and just got your reply Harry thank you for the interesting information. Take care

Thank you John and Minh for your advice.

LOL Its kind of funny how we bailed all the banks out with tax payer money but they sure don't want to see anyone else make any.

Yes, I guess the most important thing would get clear on the exact rules for this from different banks. It is kind of difficult to make a plan if it rests on false assumptions. Maybe I will have to buy all cash and then try to pull the money out with a refi to buy more. Maybe this is not the best form of leverage but you can only do what you can do.

Hi Jake thank you, a lot to consider there. Kyle are you sure about that? I thought another investor told me that you can use potential rental income in your proposal to a bank when applying for a loan to purchase that property. Anyone else know for sure? The banks are always changing things. Thanks again.

Hi, thank you for all your ideas. My main goal is cashflow from the properties so I can use that to live and maybe reinvest some of it. I am in my 30s, and not working right now, I have been focusing on real estate full time for the past few years trying to learn as much as I can. Would not working right now affect my ability to get loans in the first place? That is why I thought maybe my only option would be to buy all cash at auction and then refinance the money to buy another house for each house I buy in cash. Is that the way to go? Or will a bank give 10 loans to someone who is not working but has money to invest in rental property? The rent I would be aiming for would be around $1,000 a month for a 50k house. I realize that may be difficult so 1k rent for 75k house may be ok. I understand that you generally get more rent percentage wise for a lower price home. It is just that I am in my 30s so I am thinking I have some time so maybe leveraging my money to buy as many 150k to 200k homes may actually result in bigger rent increases AND appreciate in the future. What do you think?

Hi, I am have some experience investing but not full time by any means. I was wondering if anyone had some advice regarding the following. As an example if someone has say 500k to invest (lets say in the Phoenix area but I am open to other areas like Las Vegas and California maybe even south Florida) would they be better off buying 10 houses for 50k each then renting them out and then doing a 75% cash refi (I am guessing you could pull that much out of each property) then reinvesting the refi money to buy 10 more houses? For a total of 20. Or would it be better to use the 500k to put 20% (or 50k) down on 10 houses that are worth 250k each and then try to refi those houses to buy 10 more houses that are lets say 100k each. I heard that it is tough to get conforming loans after the first 10. I've always been curious about what option most successful investors would pursue in term of trying to get high returns in a relatively safe way. Any markets to avoid? Any common sense things I am missing here?

Thank you for any ideas,

Lisa