All Forum Posts by: Becky Elder

I can't make it to this one, but interested in future meet ups! Where can I find info on future events?

Analysis Paralysis - still trying to decide best route to take!

Are you able to find a compromise with them in writing a contract for payment and paying an interest rate to them?  

Paying the 401k penalties as well as bumping you into the next tax bracket is brutal and would hope that you could find a solution that meets their needs as well.  

Maybe a question to post in the forum would be more to the affect of what creative financing solutions have you come up with to buy out a partner from a rental property?  It would be interesting to hear what others have come up with. 

We know the market is cyclical and we're probably due for some sort of adjustment.

However when it comes to real estate investing, if the numbers make sense for your goals then it works.  Have multiple exit strategies and you'll be okay.  

Great comments here and yes, I also agree on going the HELOC route. I have one on my home with my local bank and they do give you 3 opportunities to lock in your rate when/if you need to. Or keep leveraging the equity to acquire more properties!

Rates have already gone up quite a bit since last July, maybe a HELOC on that property would be a better strategy to access the equity?

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $150,000
Cash invested: $25,000

Bought a second lot in Vantage Bay after first lot was appraised for a 200k profit. The goal is to hold and rent but still nice to know we have equity.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $400,000
Cash invested: $50,000

Bought a lot in the New Vantage Bay community and building a Hiline home on it. Lot and home total cost is 400k and the appraised value came back at 600k!
With the pool, clubhouse and near the Gorge Amphitheatre - we plan to to use it as a short term rental.

Investment Info:

Single-family residence buy & hold investment.

We kept the first home we bought and have rented it out for the last 8 years.

What made you interested in investing in this type of deal?

My Uncle recommended to me that real estate is a great investment and to keep this home and not sale it - he was right!

How did you finance this deal?

Conventional

How did you add value to the deal?

Improvements as needed

What was the outcome?

Great, low maintenance with good tenant screening.

Hi Rebecca, 

Welcome to the group, you're on the best track with being connected to BP! I love and learn so much from the podcasts and trying to come to the Forums more to learn more.  

I like the advice you've seen here so far too.

Are you a homeowner already? I'd recommend buying a primary residence for yourself that you can add value to and then rent it out in and buy your next home.  House hacking is the best way to accumulate real estate.  The interest rates and down payment are way more favorable for a primary home over an investment property.  Let me know if you have questions, I'm happy to connect!