All Forum Posts by: Wyatt Wolff
Wyatt Wolff has started 6 posts and replied 452 times.
Post: Looking to Network
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
Hey Jacob! Here in charlotte as well. Lets snag a coffee soon
Post: Hey guys! Looking to network with anyone in the Charlotte or surround areas.
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
Here in Charlotte as well! We should all grab lunch one day
Post: SECTION 8 RENTALS
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
Quote from @Adriese Williams:
You get certified with your local housing authority,you vet the tenants the same way you would any tenant, The upside is guaranteed income every month, your property needs to pass Sec 8 inspection, (Everyone needs Clean, safe housing). I've been a sec 8 landlord for 5 years, the trick is to get good at vetting tenants.
Make sure that you have a great PM (or are one). You will almost all problems by vetting properly.
Best of luck!
Post: Advice - Line of Credit on a STR
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
Helocs on investment properties aren't necessarily easy to come by, but they are possible.
My main point was- shop around! Make sure you get exactly what you need.
Shoot me a DM and we can jump on a call and brainstorm if you need.
Post: 17 With $60K Cash
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
Dude, that's awesome!
If you have room to grow, keep investing in the biz as long as you can. You will never be this young again. You have no bills. Try to do everything you can to grow that business. Now is the time for you to take all the risk you can/want. ROI on growing your own business will almost always outweigh the returns from something new (Real Estate for you).
If you have determined that you don't have room to grow, or don't want to go that direction, then I would say save as much as you can. Until you are 18, you are kind of hamstrung anyway.
If youve done both of those, then I would say figure out what path in RE you want to go, and dive in. You are a biz owner, I would suggest Air BNB bc it will be most similar to you
Post: Advice - Line of Credit on a STR
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
Those fees seem high. If you prefer to use a HELOC, I would shop around. There have to be better products for what you are trying to do.
Why would you take a biz LOC instead of a LOC on the property if the property is owned free and clear?
I feel like some more details may help. Good luck!
Post: If you borrow for down payment how do you pay it back?
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
Add it on as an extra cost. Understand that the property needs to float the payment, or you do. Maximize income, second job, raise, roommates, the methods vary.
Good luck!
Post: Investment partner Charlotte
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
Shoot me a DM and I will be happy to answer what ever specific questions you have
Post: Location-independent tech professional looking to house-hack in any tax-free US state
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
Quote from @Hou Chia:
If you were a single, self-employed, and location-independent worker, how would you go about identifying the best house-hacking opportunity in a tax-free US state? Ideally, I'd like to use a FHA loan to purchase a multi-family unit (up to 4 units) and live in one of the units. Any tax-free state is fair game.
Would definitely depend on what your budget is, and what you want. I would also suggest factoring in whether the state is landlord friendly or not.
Charlotte is awesome, and my neck of the woods, if you have any questions.
Post: Legal advice on North Carolina lease agreements
- Lender
- Charlotte, NC
- Posts 466
- Votes 278
Adding my favorite property manager @Lorien Rollins