All Forum Posts by: Maria Durflinger

Oh, I forgot to mention, the house we got has a great accessible driveway. It will be much easier to rent out.

We passed up a house that all the walls were crumbling, dirt basement,  outlets in floors, old fuses, etc..To top it off, it had just snowed and I about got stuck trying to find the drive which sloped down. That was the cherry on top.(we did not use the drive) The place sold and I imagine they got a great deal, but as a newbie as well, it would have been a bit overwhelming. Keep looking. We did get a sfh. It just needs the bathrooms updated, new kitchen floor and fresh paint everywhere. That, we can handle.

There are banks that will couple your home with reno loan. Then you would only have the one loan and not 2 to keep track of.  Ask around.

Share your vision with her.

We close on our first rental home next week. The bank suggested for us to pay off our car to reduce DTI. We did. Diesel Passat. Over 50 mpg. My husband drives all over the state, so keeping it was nessesary.

I'm a hairstylist! 

I rent my spot in a salon/spa.

My husband has his own janitorial business with over 30 employees.

We should be closing on our first single family rental by the end of the month!

OK. I hope to be in the same boat as Sarah in the next few years. We are in the process of purchasing our first rental property. Bought cheap, will need a rehab. Great location, Hope to have a great renter as Sarah has.  I see that since it is not bought for much (20k) that to refinance, you would only get squat out of it.  But if it is making income (I estimated getting my investment back in 4 years) Why sell? As of now, I plan to hold. You can't say this only leads to dead ends. Save save save and put 20% down on another? There must be more answers. I'm interested as well.

A couple weeks, we sign papers today for our first rental property.  I was driving myself crazy trying to learn all the laws, then I realized, I'm not a lawyer. Once I told myself that, I felt more confident.  I can ask our lawyer legal Qs and we'll make contracts together. BP has been the best find. Without BP, I don't think I'd be at the realtor's this afternoon! 

 Taking control of my life!

Bid got Accepted!! Now for 40 pages of paper work and signatures!!!To excited to care. I have the wheel, or almost!