All Forum Posts by: Amy Kendall

@Steve Vaughan said it well, if you are interested in stocks, you can simply buy index funds through a broker.  The management fees are very low and you can match the return of the market (which has sucked so far this year).  A good place to start is with a fund that matches the S&P 500 like VOO or SPY.  

If you really want to be in real estate only, I would recommend taking the time now to get your real estate license.  I did mine once I had my second baby and just worked it in when I could.  Then, you can be really flexible with your scheduled and grow as you want to with the time that is available to you.  It was the best choice I ever made for myself!

@Aubrey Porter If you really think that you are priced appropriately with the comparables, I would really look at some of the other suggestions mentioned already.  I know that interest rates have increased, but I haven't seen that have much of an effect in our market yet.  I listed a property this weekend in Salt Lake around this same price point and the open house was packed.  We got six offers that are very competitive and well above the asking price.  It seems really strange that no agents showed up to your open house.  Best of luck!

@Zachary Sexton Sure, send me a DM, and I can prob recommend one. 

@Tony Campbell I think the answer depends on whether or not you plan to move into this property and use it as a house hack, or if you are just buying it as a pure investment property.  If you plan on using it as a house hack, your financing will allow you to get into a property with a lot smaller down payment.  I would recommend that you have a six month emergency fund in place left over after you close on your investment to get started.  Best of luck!

@Ryan Sanford sometimes being a new investor can be discouraging because it seems like you aren't moving anywhere fast.  I think you have a good plan and what I have really found that makes a difference in our market right now is having reserves and cash that you are willing to put down to get that first deal.  In this crazy competitive market, the investors that are winning bids are those who have more cash to put down and make their offers more appealing.  Unfortunately, that means that the newer investors who don't have those reserves are losing out on these deals.  Hopefully, it will be a different situation next spring when you are looking to buy, but you can prepare this year by really saving all that you can so you are in a strong financial position to get started next year.  I would also recommend that you just keep learning and if you can learn about flipping homes or managing properties, then you will be even further ahead.  Best of luck!

@Hailee Money This is so good to hear that you were able to make it work!  Congratulations!

@Victor Sine Congratulations on your first big deal!  Best of luck to you and the next one!

@Flip Chavez I think @Ken Naim and @Wale Lawal both did an excellent job on addressing your concerns.  If you plan on sticking to a fourplex, then the process will be very similar to what you are familiar with in purchasing your two other homes.  I also have some experience with local commercial lenders if you decide to go that route.  I think you have a great foundation to start from and the biggest challenge will be to find the right property.  Once you have that, you will be able to sort out and jump through these little hurdles in the process of purchasing the property.  Best of luck!

@Markee Jensen A lot of good advice here already!  House hacking is such a great strategy to start out with, and I think you will do well even in this crazy market if you focus on the numbers.  Renting out by the room gives you such an advantage over what most people are willing to do, and whether you decide on a multifamily or single family, I really think you can find a property that will work for you.  Best of luck!