All Forum Posts by: Audra Luther

@Samuel Nuckles

Air Force TSgt here ;-)

Buy before you get out, even with VA loans you need proof of income to qualify so do it while you still have a paystub!!

@Eric Malone

Wondering what you ended up doing? I am currently pondering the cashout on my SFH but the loan originating process will cost me $14k to get $32k (which would be used as a down payment on an Airbnb hopefully- markets crazy hard to find one in the area I'm looking!).

@Weng L.

I wasn’t able to do a cash out re fi on my investment property in April, decided to wait for the covid storm to pass and am trying to re attack now.

I have a credit union that says they can do 75% LTV buttttt only one person at the credit union can do re-fi's and he is horrible at getting back to me and getting the process moving!! I understand with low rates everyone is refinancing but I am still having trouble doing a cash out now (Dec) due to covid.

It’s kinda killing my real estate dreams!! Let me know if you find anyone to help!

@Forest Skufca I am interested in out of state markets, not sure which ones! I would like a more affordable market than Oregon, but one that is increasing value!

I have not considered turn key properties yet as i haven’t researched them enough to understand how to make them work for me! I’m interested in them, but would probably feel more comfortable in buying run down foreclosures and BRRRing as that seems to make more sense to me!

@Whitney Hutten

This was great Whitney! Thank you for all your input! I just wasn’t sure how to make the numbers make sense. I think that $360 is great cash flow for the property but I’d like 4 houses that have that cash flow!

I’m going to go get a pen and paper and take a closer look at this, our market is so high here in Oregon it would be hard to find cheaper homes in my area to rent out, but I am definitely looking into it.

I’ve been binge listening to the podcast for about a month, almost have heard all episodes by now but I am still figuring out how to start my journey. Sorry if this question has been asked, I looked all over the forums and blogs before posting!

I have one rental home currently, it cash flows $360/month and is a house in great shape. It was the first home I bought at 23 years old. I eventually bought a second home to move into and began renting my first home.

Fast forward 6 years from purchasing the first home, and my real estate agent agrees with my market analysis, I can sell the house for an $80k profit. I do not have to pay capital gains if I sell within the next 2 years.

My goal is to own 10 rentals in order to make a passive income to allow for a more comfortable life style/earlier retirement. Unless I want to liquidate my retirement or TSP I do not have the capital to invest in another home. My question is, do I sell this home to gain capital in order to invest into "cheaper" rentals and attempt to BRRRR? Or do I enjoy my slow cash flow on this home and slowly keep saving to invest in my next property?

Thanks for any insight, I’ve weighed the pros and cons of each side and feel they are equal so an outside opinion would be great!