All Forum Posts by: Suzanna H.

I just tried to get a cash out refi on a free and clear investment property worth $90k and am hitting a wall because I'm looking at taking out $30k and lenders want to start at $50k. Ok, I'll take $50k (banker says up to 60% which is $54k) however this is not a primary residence so they can't make the rates work. Is it the not being a primary residence or the low $50k loan amount what's killing me? I asked this banker many questions and he tells me no problem . I didn't want the hard pull on my credit unless I was getting the loan - yeah he pulls it and comes back with he can't make the numbers work for $50k and non primary residence. 

Am I going to have this same issue with a HELOC or should I start contacting the HM lenders that I have access to? (I don't want to sell as it's cash flowing $425/mo.)

Is the main issue that this is an investment property versus Alishea's being a primary?  

I checked it out, and registered. Thank you.

I'm in Reno and there is an investment club here. The meetings are the 1st Tuesday each month, I've only been once as I'm new.  Here's the link http://reno-reic.com/site7/.

Suzanna

@Mike Hurney I didn't get that at all unless you mean that men are traditionally the breadwinners

Thank you @James Wise 

Thank you @Ned Carey.

I am looking at this thread with great interest. 

What are the differences in what an unlicensed investor does versus a licensed agent? A licensed agent is limited in how much per transaction they earn due to the %, desk fees, split with broker, no? How does this work? 

I'm excited to get my foot in the door with real estate investing but want to know what I would actually be doing day-to-day if licensed and how the money comes.

Thank you,

Suzanna 

[email protected]

Has anyone used the Leads in an Hour program? If so what did you gain from it?

Hi Everyone! 

I've been looking through Bigger Pockets for a couple days trying to get the lay of the land - I am thankful to have found this site. I live in Reno, Nevada and my previous real estate experience was working for two Fortune 500 homebuilders in Marketing and Sales. I've been doing a lot of research during the past couple of months and am ready to get started in the next phase of life as an investor.

My goal is to buy and rent student housing for cash flow. The university here in Reno is lacking adequate housing and the prime walkable area for students is pretty small due to how the campus is situated. My other goal is to help other people whether it's helping them get started in investing or making smart decisions in buying their own home and to contribute a portion of my income to a local cancer non-profit that is close to my heart. Most of all I want the freedom from debt and freedom from the daily 8-5 j-o-b, my family needs me around more than that and I want to control my success and business rather than be the cog in a wheel.

I am a bit overwhelmed on information overload right now. I'm not sure exactly what my first step needs to be, every book, every podcast interview people have slightly different methods. I just need a clear roadmap - if anyone knows of a book or where to find one with clear and chronological steps please leave the title. I've seen lots of comments here that the info new investors need can be found in books and on this site - no spendy bootcamps needed. I get the big picture now I need the details - do A, B and C then do 1, 2 and 3. That's me and where I'm at. 

I'll excited to be part of the Bigger Pockets community!

Suzanna

I just started reading Lifeonaire after hearing the author Steve Cook on the Real Estate Investing Mastery podcast. What he said that interested me enough to buy the book was taking stock of what's important to you and what you really want. And to move away from the answer being money - if you had the money what would you want to do with your time? He has you thinking about 2 stages of goals the first to pay your expenses so you can have that time freedom. Once you have that then the next goal is to build up wealth. 

This hit home with me and is inline with the philosophy of the podcasters where I was listening. Really if you are debt free you don't really need that much money to cover expenses and you don't have to live to service your debts (takes a load off my mind to think of it that way). Then everything after that is gravy. I've spent more time than I'd like to admit worrying about money and that I need a certain amount to "make it", but I realize if I'm debt free that I don't need that much and that amount I've idealized would be my gravy and not my necessity.

Final word after I finish the book.

Suzanna