All Forum Posts by: Audrey Spina

 Hi Paul, thanks for the offer! I’m just wondering if they spent two hours a week researching, securing, furnishing, etc their Airbnb. I can’t even conceive how it would be possible, though I do believe once the systems are in place it could be much easier to manage. 

Oh I agree that it would be a great foundation to take my baby with me to get him interested in what we are doing. Unfortunately anything I’m considering will likely be sight unseen and out is state. So probably just lots of emails and phone calls which can be hard to manage with so little time, but not impossible 

My family is also the most important thing, I call my son my North Star. I’m excited to create something for us and his future. I love your idea of turnkey, that may be just what I need to move forward with less of a time investment. I really appreciate the info and referral to the company you use. I’ve already set up a call with them to see what they’re all about. Would love to reach out to you about your experience too!  

 Thank you! Yes there are some great suggestions here and I try to spend those couple of hours on my phone doing some research, reading the forums etc. 

How do you invest when you have two hours a day to yourself? What would you do if realistically you could only work while baby naps? Pre pandemic we planned to start investing, started saving, analyzing deals, getting pre qualified etc. I found out I was pregnant two weeks before shutdown and ended up shutting my business down for 5 months, lost basically my entire income, etc. 

But I’m anxious to get back to a plan even though my income has taken a hit, we still have tons of savings. But TIME! I have so little.

So if you had minimal time but were ready to invest, what would make the most sense? STR? Long term hold? We live in NYC so absolutely no house hacking or STR here, anything would likely be out of state or definitely not within a couple of hours. We plan to move back to CA in a year so I want to do something now while I still own and operate my business. Thanks for your insight, mom life can be relentless!

 Thanks for the info Rick! I need to educate myself more on some alternate funding strategies in case this low salary sets me back. I don't use my vehicle for work or have any major depreciation. My accountant is doing a fantastic job with my taxes, a bit too good now with the idea of securing lending is looming. I am definitely going to look at portfolio lending and educate myself further. I haven't chosen a market yet, and it could very well end up being the west coast though I think mid-west is probably more likely as I think I'll need to start with securing a loan for a property less than $200k. Though I know I can afford more I'm not sure I can prove that in the eyes of a lender. Are lenders open to discussing a strategy with someone without a hard inquiry into their credit? 

Thanks for the comprehensive reply! I do show some dividends after my salary is paid but its still only showing about $40K in total income. In reality its a different picture but I know this won't matter to a lender. 

I have no debt and all credit cards (typically about $6K a month are paid off monthly). This has definitely helped contribute to my credit score. 

Rent IS expensive in Brooklyn! I pay two of them between my apartment and shop so Im sure that won't look favorable but besides things like insurance and utilities, major items are paid off. I wonder if a lender will do a soft inquiry without a hard inquiry into my credit? 

HI BP Members!

I currently own a retail business in Brooklyn NY and am ready to expand my investments into real estate. OOS multi-family is the goal. I'd like to take the first step of getting an idea of what I could qualify for except it has just occurred to me that having a very good and very creative accountant has also left my income (on paper) looking a bit sad, and not quite an accurate representation. 

I am an S-Corp and pay myself a small salary of $40K but make the lions share of my profits through my dividends. I have had lots of deductions and thus has cut deeply into my financial "portrait." I do however have excellent credit (780) and 6 figures in the bank. 

To get to the point- Are lenders taking your taxes as the most important part of your financial picture? This year I will be bumping up my salary to take this into account, but wondering if I should hold off on trying to get pre-qualified because my income currently shows so low. Otherwise do I just see what I can get qualified for based on my measly earnings but excellent credit and liquidity? Thanks in advance! 

Also I should note, in case this makes a difference, I have not chosen a particular market for investment yet,  I am finding that to be my biggest challenge!

Hi BP Community!

Before we get started I DID check the meetups on BP in my area but they are pretty limited at the moment. It occurred to me that there might be some closed (or otherwise) Facebook groups or other meetups happening that some of you know about. 

Full disclosure I am not going to be a local investor in NYC but I have been preparing to get into an OOS market for multi-family investing. (Please lord let me just pick one already!) It would be amazing to find a group of people in NYC already doing that. I would also just be happy to be a part of a group regardless of where their investments are. Thanks in advance if you've got a lead on that!

As a small business owner I have taken certain transactions from clients on Venmo for years. It works seamlessly and you can either deposit that money directly into your account or leave it in Venmo as kind of an online bank to pay for other things. I know in particular they have partnered with Seamless food delivery and maybe even airbnb. You do NOT "share" account numbers with people on Venmo as I saw mentioned. However you can request money from anyone by their name or phone number (an amazing feature to remind someone to pay you). I would love it if I could pay my rent with venmo but my retail landlord is literally the only bill I have to go to the post office for. Sigh.

Skip paypal for anything and everything. I had major fraud on my paypal account and it took months for them to handle it and return thousands of dollars to me. No thanks.