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All Forum Posts by: Sadierose Saucier

Sadierose Saucier has started 6 posts and replied 29 times.

Post: How to grow with a HELOC?

Sadierose SaucierPosted
  • Real Estate Agent
  • Eastern, CT
  • Posts 31
  • Votes 8

Hi everyone!
Long story short, my fiancé and I house hacked a 3 family for a few years. We bought another duplex to house hack this past February, keeping our first 3 family.
We are cash flowing $500/mo at the first 3 family now that we are moved out and when we move out of the duplex we will cash flow $500/mo from that one as well. 
We have 2 open HELOC's, one on each property for $30,000. We have an FHA loan available to us that we would like to buy the next property with.
To use the BRRRR method and use the HELOC to purchase more properties, how do you continue to cash flow well when you now have another mortgage to pay?
Also, we are having a hard time in this market using an FHA loan.

We just feel stuck. Our goal is at least 2 properties a year. Thank you for an recommendations or advice. 

Post: Southern Utah Agent?

Sadierose SaucierPosted
  • Real Estate Agent
  • Eastern, CT
  • Posts 31
  • Votes 8

Hello everyone! My Fiancé and I have fallen in love with So.Ut! Any agents in this area? We would love to house hack a duplex to make our move doable. We are coming from CT (so also an expensive market). 
Also, if anyone has any important info they would like to share about this area I am all ears! TIA! 

Post: Eastern CT contractors

Sadierose SaucierPosted
  • Real Estate Agent
  • Eastern, CT
  • Posts 31
  • Votes 8

@Justin Remillard looks like we don’t have many neighbors on here! I used Mr.Handyman to fix my siding, but they seemed pricey. I believe they do plumbing and any other work if you wanted to give them a try, if you’re in a rush that is. 

Post: Eastern CT contractors

Sadierose SaucierPosted
  • Real Estate Agent
  • Eastern, CT
  • Posts 31
  • Votes 8

Hello! I am having a hard time finding contractors in my area (like most others I’m sure!) Can we start a thread of contacts in this area?! I have a rental in Danielson and Moosup (Plainfield). I used Mr.Handyman yesterday for a small siding project that cost around $900! I have a reliable electrician and gutter guy if anyone wants the info. 

Post: Student loans into mortgage?

Sadierose SaucierPosted
  • Real Estate Agent
  • Eastern, CT
  • Posts 31
  • Votes 8

@Jonathan G. I have never heard of this! I will definitely look into it, thank you! 

Post: Student loans into mortgage?

Sadierose SaucierPosted
  • Real Estate Agent
  • Eastern, CT
  • Posts 31
  • Votes 8

@Daniel Smyth I totally get that! The biggest reason I would like to do it is from the aspect of my tenants paying the student loans back for me. So as long as the property still cash flows, win win! 

Post: Student loans into mortgage?

Sadierose SaucierPosted
  • Real Estate Agent
  • Eastern, CT
  • Posts 31
  • Votes 8

@Theresa Harris I have been following Dave Ramsey’s baby steps loosely for a little while now so I am trying to pay them down faster for sure. The only thing bothering me is the opportunity for my investments to pay for them as opposed to me. Leaving me more money now to invest sooner. It’s such a tough battle! 

Post: Student loans into mortgage?

Sadierose SaucierPosted
  • Real Estate Agent
  • Eastern, CT
  • Posts 31
  • Votes 8

@Ronald Allen Barney ohhh I see. Thank you! 

Post: Student loans into mortgage?

Sadierose SaucierPosted
  • Real Estate Agent
  • Eastern, CT
  • Posts 31
  • Votes 8

@Ronald Allen Barney thank you for that! I think I just need to make the hard decision of getting rid of my student loan payment vs. feeling over leveraged with our cash flow. Also, what do you mean by receiving a max of $2,000 back? 

Post: Student loans into mortgage?

Sadierose SaucierPosted
  • Real Estate Agent
  • Eastern, CT
  • Posts 31
  • Votes 8

@Greg Scott@Josh Caldwell We have $35,000 HELOC on our first property which we are keeping open to maintain future updates to the property and future investments. The second property we just purchased and already have $30,000 equity in the property which would not be a full loan payoff. Both are cash flowing well. I was hoping to combine my student loans into our next investments so that we can have a solid base with our first two properties to keep them cash flowing well. My student loan payments are $900/mo so I feel limited only because I want to be investing this money and find a way for the tenants to pay it, not me. I know it's a lot to ask, just trying to figure out my options. Thank you both!! I definitely think my bank could be limiting me in some ways and I am going to get second opinions soon.