All Forum Posts by: Wyatt Wolff

@Evans Wright This looks like your area of expertise sir 

@Matt Piercey I would love to hear what you have going on. I am down here in the Charlotte area. 

I think you are on the right path. Hold, continue building equity, and in the long run you will do well. In the meantime, speak to a seasoned PM and see what the hangups may be. 

@Lorien Rollins

Agree with Stephanie. The likelihood that you will be able to refi and get some better cashflow is pretty high. In the mean time, maximize your house hack. 

Those are two very different strategies, with different levels of difficulty. Are you experienced in either? 

Buy and hold is going to be easier to do, but a harder time finding deals. Fix and flip *can* generate cash quickly. 

You could cash out on the property owned free and clear, and then use that to buy and hold, or BRRRR.

Like the fellas said above, DSCR cash out all the way.

I definitely don't think he is in the position to be a private lender yet. I think most of the ones I have come across are either a) Very well off, and diversifying, or b) much later in their careers and they are using a vehicle they know (RE), just in a more passive way. 

Start where you can get in, and get good. For most people, that will be in their own backyard. The name of the game is getting into the game, and then figuring it out. Obviously do your due diligence, but don't over analyze. 

set your criteria, and then hold firm. You are running a business. If someone cannot meet your criteria, then they are not the renter for you. That simple. Unless you are terribly priced, or have a severely limited customer pool, turning people down is going to be part of the business. 

@Lorien Rollins may have better insight. 

Two duplexes would be much easier to finance.