All Forum Posts by: Ash Hegde

If you are eligible for a refund from 2022 with an amendment, it's generally better to get the money now rather than having a loss carryforward. 

Hi Angelica, I would look for a local meetup - there is a meetup section under "build your team" at the top of this site. You may meet some people who want to partner up or know someone who does. The more people you know in the area, the more the opportunities will present themselves. 

Hey Tyler, the appraisal will still come into play. There are two pieces to the loan calculation - loan to value (needs appraisal), and debt service coverage ratio (rental income vs. mortgage). Even with high rents, you won't be able to take more than 75-80% of the appraised value out. 

Side note - @Ray Hage would be a great resource in the area for multifamily/house hacking. He's an investor and agent. 

For a first multifamily house hack I would probably do it on your own so you can get a handle on what it takes to manage a property. You could use an FHA or conventional low down payment option since it will be your primary.

With additional investments though, you could form an LLC and have a 50/50 partnership with your parents for any properties in it. This entity is where you would want to BRRRR.

Welcome Kyle! Smart idea to try to connect and build a team to learn from/work with. I'd also suggest looking into meetups once you get to the area. There are often some great and helpful people at those. 

You will probably be better served with a new partnership LLC that you both own, rather than buying it with an existing business that only one of you owns. In addition, an S-Corp is not ideal for owning real estate investments.

HOA fees are rough for borrowing on investment properties in this interest rate environment too. They can push a DSCR loan into negative cash flow territory which makes the rates even worse. Even though you should be setting aside reserves for future maintenance anyway, you don't get penalized with financing for choosing to do so vs. being forced to with an HOA.

If you are still growing your portfolio, I would not pay down the mortgage. Save that cash for reserves and the down payment on your next property. If/when rates drop in the future you can always refinance. 

Hey Chris - generally, these programs are a waste of money and you can learn yourself with a good team around you. @Ray Hage is a great resource here in our area, an agent and investor with experience and contacts.