All Forum Posts by: Lisa Ginter

This is FANTASTIC and I am so happy for you guys! What an amazing opportunity and I am so glad to hear you want to hold on to it. If you'd like I can connect you with my favorite lenders than my clients have really loved to work with and they would be able to get into the nuts and bolts of all the questions you'd like to know about the LLC part and all your options with a loan. Regarding HELOC Mountain America Credit Union and America First credit union have the best rates for HELOCs and America First will do a HELOC on an investment property where I don't think any other company offers that. However I can help feel free to reach out & connect.

@Tommy Ray,Thank you :)

Research and then choose which type of investment you want to do first. Decide your rules ahead of time. What are the numbers you will work within right now and what’s your vision for the next year/ 5 years/ 10 etc? Your numbers on what you want in your properties will more than likely change & that’s totally ok but have plans and minimum requirements on properties. Use property analysis tools to help you.

Hi Rod,

What a wonderful question! I think it depends on the city/ county you are in. I personally have not gone this route but I used to help manage my in laws multi-units while I was going through college and have considered doing what they did down the road. 

Instead of getting classified for the entire property, they went down to the local housing authority and talked to the manager about their units and left handouts about their properties that was marketed around helping section 8 elderly folks. They had 3 fourplexes and we went the route of getting each unit spot approved when a section 8 housing applicant came through. They highly recommend it and loved having those tenants. Many of them were fixed income and disabled and had the entire rental amount paid through the Section 8 program and all of them lived there for years. The section 8 housing authorities would come out once a year to do an inspection on the property which would help encourage them to communicate openly with us and let us fix things as they got broken. I am sure there are horror stories out there with others, but the experience I had was very fulfilling. 

Great and very accurate post! And if you top it off with the anticipated appreciation over the next three years this is a great time to buy!

Hi Ryan- great question and I would say it depends on your local laws and how risk adverse you and your fiancé are tbh. Do you have an agent in the Baltimore area already or would you like a connection? This would be a great question for a local realtor. In Utah, it depends on lots of variables but most of the time you can rent out the MIL while you are living in the main area but once you are ready to move out there will be lots of variability again.HOA rules, city zoning, nosy neighbors vs keep to themselves, the list goes on and on. I have seen many investors keep the renters in the MIL or get renters on the main and turn the MIL into an airbnb, turn it into a non conforming duplex, rent the whole home to a multi-gen family. Lots and lots of options. Congrats on two amazing life changing events coming your way :)

This is in no particular order.

1. Don't be afraid of being your authentic self.

2. Don't worry about kindness and "doing the right thing" being taken as a weakness. In 2022 it's a super power.

3. Grit, hard work, persistence goes much farther in life than you think. Just keep at it. 

4. Get a mentor and surround yourself around those who are further down the path you want to be.

5. Fail forward & pivot.

6. Growth comes out of comfort zones.

7. Buy as much real estate as you can as often as you can. It will always feel expensive at the moment but you are buying and holding. It will appreciate far more than you can imagine at the time you purchase. 

8. Set time aside for self improvement. Read and work out everyday.

Thank you for posting! I am planning on attending :)

Jacqueline Jankaew- what area of the country are you in? I think it really depends on the market the property is currently in to really answer some of your questions. You received lots of great responses on how to determine the fair market rent on the property and how to analyze a rental property to know how to make an educated decision on your next rental property. No need for me to repeat because they are SPOT ON. :) You asked:

Is it normal now for Mortgage to be more than fair market rent? When purchasing with less money down, mortgage insurance, compounded home insurance and property tax is included in the first year increasing monthly mortgage.

It totally depends on your motivation and intention on why you are investing into real estate, what stage you are in your real estate investment journey, and what market you are investing in. For instance, in my market, around the Salt Lake area of Utah, the property value has increased dramatically over this past year especially but the rents are considered pretty low and are expected to increase over the next few years. So in this particular market the anticipated cash flow is much lower than other areas of the nation but I am still helping plenty of inventor clients purchase more investment properties because their motivation and intention aligns with this market and they are ok with a reduced cash flow for the next while. It sounds like you need to do some number crunching to decide how you want to run your investment business.

When mortgage costs $1,300 more than fair market rent how would you guys go about this? I understand I would be building equity in the home but not cash flowing. I would instead be paying for part of the mortgage.

What stage are you in on this scenario? Have you already purchased the property or are you doing research? If you are at the research phase look into another property or market to give you better numbers. In that scenario you have more than just the 1300 negative cash flow. You have to factor all the other elements.

Great job doing your research! I would ask them what’s their intent of use with the property to better understand and that should help you with legitimacy and if you would want to proceed. Depending on that then ask for references from other landlords, find out if those folks actually own the property they say they do to verify the recommendation is viable. Being such a new company that may not go anywhere but with another company same name suspended then possibly. No matter how much research you do you may need to just go with your gut on your vesting process. 

Corporate rentals could mean many things so you need to make sure your lease agreement clarifies your stance on subleasing and you can communicate that asap.