All Forum Posts by: Ty Coutts

Hello @Andreas! 

I myself am not currently in Nashville, but love to visit often! I have quite a few clients in that area that I help analyze their different investment home ideas. I bet they would love to link up with you.

Let me know if you are hosting any events or anything and I will advise them to meet up. Or you can always message me directly and we can start a conversation!

I highly recommend Brett Nissen. https://www.biggerpockets.com/..

 He is a Bigger Pockets member himself and in the Jacksonville area. Very smart, kind and eager to help!

Let me know if you need any other help with your growing portfolio 

Great question! 

I personally use HELOC's because I enjoy the fact that I can use them over and over again for multiple deals.

Essentially think of a credit card with a very high limit (and much lower rates than a credit card). Once you pay it all off, you do not have to make payments or pay interest since you have a 0 balance. Then you can choose to take money out again for a new down payment or renovation costs and do it all over again!

Keep in mind, some HELOC's have minimum annual payments (again like a credit card), but all in all it is a wonderfully useful tool.

Let me know your thoughts!

Looks like you have some great advice and connections with Erik and Adam's responses already!

Happy to help answer any other questions you may still have on your strategies for your next property. Love helping others grow and learn! 

Hello Rebecca!

Congrats on already taking the first step in educating yourself by joining this community!

I started with a post very similar to this when I first joined the Bigger Pockets and I have connected with so many amazing people and received a ton of great advise and recommendations from here.

Have you already thought about your long term goals and your "Big Why" behind why you are wanting to invest in multi families?

Would love to chat at any time! Feel free to message me directly as well.

I agree with @Jay Thomas! Even on the lender side of things, it is all about the numbers game. Perfect your scripts, be confident in your value you can bring to others, and keep plugging away at the calls! You never know where the next yes is going to come from. 

I know I certainly still am! Luckily I am relatively young (29) and have time on my side to weigh into the long term pros more than the short term cons.

I read a study recently that proved that on average throughout the entire United States, home appreciation percentage has beaten inflation every single year for the past 80 years! My bet is always on real estate no matter what the market climate, now it is just about finding those great deals.

Hello @Michael Bryant!

There are a ton of fun things you can do when looking at out of state non-owner occupied lending. Would love to talk to you in more detail about all the different programs and what could be most beneficial for your specific needs.

What states are you looking at currently?

I agree with @Conner Olsen and @Jeremy Kitchen!

First and foremost, do your research. 

House hacking can have significant advantages, especially when you are younger and most likely do not mind moving around as much as when you get older and settled. Getting in at lows of 3% down vs a typical investment at 15-25% down can obviously save a ton of capital. 

If you are in school full time we can absolutely use that as part of your work experience. We would just need to then have provable income once you are out of school (or while you are still in school). Getting a salaried job right out of the gate would be easiest for this, as a full commission job like a lot of real estate professionals will make this more complicated. But don't worry, there are always creative solutions for this as well.

Super glad you joined BP and am stoked that you are starting young with what seems to be a great head on your shoulders already. I am very sorry to hear about your mom. I know you certainly don't want to use that money in a wasteful way so let me know if you ever want to jump on the phone and chat about deeper level questions to all of this!

Does anyone have a good contact to help remodel two full bathrooms? 

I own a SFH that we live in the upstairs but use the separate entrance basement unit as a rental for traveling nurses. The bathrooms are both very old (1952) and need updating badly. Could also use a vent/fan in both to stop condensation build up.

Trying to remodel within a budget to get the same money out when we cash out refinance so having someone used to working with investors and getting their bang for their buck would be greatly appreciated!