All Forum Posts by: Becca Summers

Great topic, Something I've wanted to do is have a low income property where part of the criteria to live there is you take a monthly class offered multiple times a month on finances like financial peace or have different people teach the class on finances, bank accounts, loans ect. Rent would be low end of market value and I would still screen like crazy but try and invest in the people. I'm thinking start small and work my way up. There have been good posts with information that I'm going to go research.

How people get around the max loan amount per person is husband and wife will each have 10 like loans. Or wrapping houses into commercial financing. What is your end goal and you can work your way backwards from there. 

Well you have the track record to open up your options. I think it all depends on your risk tolerance. I work with some investors who stick to fourplex's or less because they can stick with traditional fixed rate loans. Once you get into small apartment complexes the financing changes to commercial financing which typically has adjustable rates after a certain time.

I might be in the minority here but I also set a nice amount aside for my 401k to help be more diversified even though real estate is my first love. 

I think it all comes down to who offers the best training. Yes it's sales for sure, but a brokerage that can get you up to speed the fastest is best. I love where I'm at the training and culture are both great for me what where I want to go with my business. I'm with Keller Williams in Utah

It started out slow, the person who watches my kids is a stay at home Mom who lives close to my office. she has kids the same ages as mine and watched my kids on day a week when I went to team meeting. As I got to know her better it evolved into more time. 

I'm getting to the point where I might need to change as I'm super busy but I love it

To get top dollar show when it's done, has staging and professional pictures. Buyer who like flipped homes can't see past the work that needs to be done or is almost done. There is a flipper in my market who does a 90% finish and his homes always sell for less they do price reductions and they sit in the market much longer than necessary. 

I have a nursing baby that is seven months old and started real estate when I had a nine month old. Tips I've learned, when I was broke I paid a sitter $10 an hour with a $100 bounis with every closing. My husband and kids drive with me to the one off showings so if it's only one home we all go together. My husband watches the kids often. I do a lot of texting and Facebook messaging with my clients who are mostly younger. Now I pay my sitter very well to cover last minute showings and appointments.

I wouldn't be able to do it without all my support.

Welcome! I stared as a landlord by default too. I learned a ton and still learn more every day. 

I don't work for the company doing this project but I've met the listing agent and builder and they really seem to be great guys. They saw a nitch in the marketplace that needed to be filled and built a business around that idea. They've sold many properties here in the last while. The listing agent @Steven Bond does get on BP. I've seen a few resale with great numbers even after a short time frame. 

I think your smart to run your own numbers just to be safe.

I could be wrong but I think this one has an HOA that covers the roof. I have a meeting with them on Saturday so I can answer for sure.

Last time I meet with the listing agent I asked if vacancy ratings where low and he said they where based off his personal vacancy rating. I haven't  personally had a vacancy in the last 4 years in this area so the low number might be safe but guessing high is never a bad thing.