All Forum Posts by: Frankie Woods

$0.  I have a W-2 income that is more than sufficient to cover my monthly expenses.  My investments are geared more towards appreciation, tax benefits, and debt pay down.  I prefer B+ / A+ areas in order to meet my future goals of building wealth vs. cash flow.  However, I never want to have an alligator in my portfolio (i.e., a property that has negative cash flow by which I must feed every month).  I won't lie, I do have some :(.  The immediate goal is to deal with those couple of properties.

I just went thru this as well.  Fannie and Freddie guidelines require different downpayment depending on the number of units.  Banks that conform to these rules will have these downpayment requirements.  Those that don't will be more flexible.  Just keep in mind that, generally, non-conforming banks generally do not offer the best terms.  Best of luck! 

The VA is probably the best product out there. I would rent out the safe-house and use the remainder of the VA to buy another househack until you exit the military. Than, you can use the transition as an excuse to move (or do whatever you want)

I’d recommend @Peter MacKercher with Mogul or Frontier.  I currently work with them.  I’ve also heard Deca is good.

OZ is complicated AF.  Your construction costs must be > than the purchase price and the period you hold the property determines the deferral.  Anything over 10 years equals 100% deferral.

I have 4 business credit cards that do not show up on my credit report.  

 Welcome ABQ!  There are some really good REIs here and some great folks.  

@Rob D. Thank you for the response!  The last time I listed my property, I was indeed flooded by section 8 applicants, but hadn't gone thru the process for approval.  This really helps. 

I'll be sure to screen diligently and not play favoritism.  

@Ming Lim DM sent!  Let's do this!  My friend's name is Adel.  I hope to have him attend this Thursday's meetup!

Agree with @Chris Mason. The banks that I've worked with haven't considered unused HELOC balances. I think it's always best to get the highest amount possible. You'll never know when you might need it.