All Forum Posts by: Zachary Ware

You should get a homeowners policy for the entire house and can require your tenants to get a renters policy. The renters policy will only cover their belongings, not yours. 

This post is a little vague. What are you trying to accomplish (buy/sell/promote??) You can have luck if you target groups focused on whatever aspect of RE you are looking to. I know many who use these groups to source deals and see many agent selling residential deals on FB. 

For me, the number of units is less relevant than the monthly CF. I am looking to cover all of my living expenses plus enough to travel a few times a year. 

Why are you looking to not take on any leverage? I would usually suggest a house hack to someone in this position but sounds like it would not be beneficial for your goals as a large advantage is higher leverage. 

If both parties agree to an amendment ending the husband's residency, I would go ahead with this date even if it is less than 30 days. Just have the husband send you an email/letter stating they would like to end their residency on X date. 

Congratulations! 

You can certainly find DSCR lenders that can do no prepayment though you will not get as favorable terms.

Hey Amit, 

Congratulations on the deal! Sounds like you have some good options on the table currently. If the cashflow is good on the property but you are looking to pull out some cash for another investment, you could also consider a cash-out refinance. You would be able to keep the property and CF but pull out some of your equity at the same time. 

I think it depends on your investment strategy. If you are looking for somewhere to park your money and get a good return, buying stabilized RE is a great option. If you are looking for wealth creation or getting those big returns for investors, value add is a stronger route to take.