All Forum Posts by: Nina Hayden

Ok, correction on the interest rates and yours is fine. I obviously bought before interests went down but it makes no sense for me to refi right now.  I have lender that’s telling me 3.125%. Not bad!  

Make ready needs to be higher.  I haven’t gotten away with make ready being less than 1500 because of painting alone!  Also interest rates seem too low, but I’ve not needed to take a loan for my investment properties so I can’t tell you. Only one of my properties has a loan and it’s in the 4.25 range I think. I can’t remember.  And that was with 30% down. Management fee needs to be 10%.  Selling cost 6%.  Last but not least, don’t know where you will find a property for 300k right now that will yield 2k rent.  

I have money to invest in New York, but why would I? Does not fit my goals at all. 

If you have an agent then I highly suggest you sit down with this agent and discuss all these issues and questions you have versus asking here.  A licensed and experienced agent will do that and should.  

Good luck finding a builder that will sell to you knowing you’re planning to move.  This is a big one for them. And HOAs.  

I’m with Joe. It baffles me some of the advice given here, especially to buy for just the appreciation part.  Investing isn’t an overnight thing and you’re going to make mistakes along the way.  
Talk to a lender first and figure out your financial options. And make sure to have plenty reserves.  

I agree with both responses.  I’m headed in the syndication route myself. I have the opportunity to build as well but I’m not sure I want to mess with that yet.  I’ve also met with commercial developer in the DFW area to invest in.  I can put you in contact with him to discuss if you would like the opportunity and see if it’s something that aligns with your investing goals.  I have an economic 2021 outlook from one of our economists that I can share with you. He talked a great deal about this.  Either way, take your time.  With the market being a sellers market, you’re not going to find much unless it’s off the market. 

Business is business. Listen to someone with 3 deals experience or someone that has dealt  with thousands of deals since 1998?  Just like my realtor, contractors, and management, I don’t hire anyone that’s not experienced in the market long enough to know how to handle them in the downturn or during a recession.  

Lennar is decent in my opinion. And I know the builder industry....25 years experience, I was married to it once. Don’t listen to someone not in Texas.  

Renting a room shouldn't be an issue. Renting the house out may be because some HOAs do not allow STR or cap a percentage of it to be leased. Just ask each sales person as you shop around. While some builders build crappy product, at the end of the day the numbers over the years is what you need to be focused on the most. Obviously after about 7-10 years you're going to begin to look into things like the roof, fence, etc. I've always treated all my investments as a 5-7 year hold, rinse and repeat. Make sure you have an exit strategy.

I didn’t get to purchase the 2 doors I wanted. But that’s ok!  I’m patient.  And I’m always ready so here’s to 2021.  I did put a new tenant in one of my rentals and it’s been a solid one.  I can’t imagine that person moving  anytime soon so here’s to having solid long term tenants. I made the decision to reduce the rent. But that was much better choice than to land someone iffy due to covid and having to face evictions. 

I’m now venturing out of state and looking into areas like Arkansa and Indiana.  

Happy searching! 

It is for military. Been with them for 2 decades.  Check out most of the big carriers and shop around.  Stay away from Allstate, they cheapen by reducing coverages.