All Forum Posts by: Amber Stout

@Rachael Palmer Are you working with an agent? An investor agent or STR agent should be able to advise you on the specific areas that perform great.

Regarding property manager, are the properties you're looking at luxury? 

@Rachael Palmer Hi Rachael, I have two great contacts depending on the STR's location and the type of STR. I have one contact that specializes in luxury and another that is more for "average" STR's. What type of property are you looking to purchase? And what is the location/price point?

Hi Michele, that's exciting that you're interested in gradually building your own portfolio. It is a personal choice. I have a Roth IRA and I own rental properties and the equity within the rental properties I own far exceed the value of my Roth IRA and for further perspective, I started the IRA years in advance to ever investing in real estate. In the stage that I'm in now which is looking to grow my net worth and cash flow, I'm more interested in investing in real estate. As I continue to grow my portfolio, I'll want to eventually diversify a bit into other strategies. Being that you're an agent, you have an advantage in the real estate space.

As far as investing with as little capital as possible, house hacking is going to be your absolute best bet. You can put 3.5%-5% down on a 2-4 unit property, live in it for a year, rinse and repeat! 

@Jorge Garcia I am a lender working mainly with investors and am happy to run numbers for you on a cash out refinance.

Alternatively, you can do a HELOC. I have two local contacts that can do 100% LTV on a primary home and another contact that can do a HELOC for an investment property.

If interested in either or, send me a DM - happy to discuss both options and share my contacts with you so you can determine what's best for you. 

Hi Tomas! I have a great agent that works mainly with flippers, as well as wholesaler contacts, and a hard money lender friend who shares weekly flip deals. If you have interest in any of those resources, send me a DM. 

@Tiffany Da Silva - Yes! That'll be best. You could purchase using a DSCR now if you wanted to as it won't take into account DTI or income. It'll be based on the specific property you're considering.

Hi Skie! I am an investor and lender in the Tampa area. There's some GREAT meetups around the Tampa area where you can deepen your knowledge on investing while picking up buyer. If you're interested, send me a DM and  I can put together a list of my favorite meetups. 

Hi Tiffany, some conventional guidelines allow for the use of "boarder income". Typically they will need to see 12 months of documented income from the property. How long has the unit been rented for at this time? Feel free to DM me and we can walk through it. 

Hi Jorge,

Short-term rentals will bring in a higher amount of income than long-term rentals, as I'm sure you already know. I personally wouldn't recommend condos because you don't have a lot of control over the HOA, which is an unknown variable in terms of cost. However, there are pockets in Pinellas that do great for short-term rentals. I would suggest working with an agent who knows the market well. I have two agents that I'd be happy to connect you with, both of whom I trust and who know the short term market well.

It's a GREAT time to buy right now. If you or your clients can structure a creative offer, it'll be a win/win for all. Many sellers at this time are not willing to reduce their price by a large amount; however, they may be more willing to give a large seller credit. The lender can then strategically buy down the rate so the deal will cash flow for the investor. As a lender, this is what I am doing with all my clients/realtors right now, and they're able to get deals done.

Here's an example: a $495,000 property reduced by $10,000 will save $62 per month. However, $10,000 in seller credits for a rate buy-down will save approx. $269 per month, thereby providing the investor with the cash flow to make the deal work and seller still nets close to the amount they want. Win/win! Reach out if you want to discuss further.