All Forum Posts by: Beth Blankenbicker

I guess it depends on how and when you plan to pull that equity back out to repay them. Are you house hacking to have a free place to live for the rest of your life or are you house hacking to be able to secure that first deal at a 3.5% downpayment and then move out after the minimum occupancy requirements have been met? If you ask a partner to put up $40k as the down payment on a fourplex, live in it yourself for a year at which point you move out and rent out the fourth space so now it positively cash flows, it would still take a few years of paying down the mortgage to have enough of a cushion to be able to pull out $40k in a HELOC or to do a cash out refi to get them their money back.

@Scott Sklare absolutely! Eventually. Need to nail down the first one and from there, who knows??

 1-4 doors, QD, PRN, titrate for financial freedom!

@Michael Wooldridge I understand. A few years ago I bought a small lot in South Carolina with cash- utility hookups are present but in unknown condition. Whatever happens in this crazy world I own a small piece of land where I can build a tiny house, park an RV or pitch a tent and no one can take that away!

@Jeff S. I just finished a book on investing where the author debunks a lot of myths about (personal) home ownership and its use as a vehicle to build wealth. I know I'm probably going to get lots of nasty messages saying this on a REAL ESTATE INVESTORS forum but it was an interesting perspective. 

For anyone considering sending me a hateful message the author does discuss times where it makes sense to buy a home vs rent, she personally opted to rent and is now retired and living off her wealth (she's about my age too) so for her at least it worked. To quote her book "...from Robert Kiyosaki, in his bestselling book Rich Dad, Poor Dad. In it he claims (and I'm paraphrasing here): Poor people buy stuff. The middle class buys houses. Rich people buy investments." -Kristy Shen 

The book is Quit like a Millionaire

@Marcus Geiser I will absolutely take you up on that offer! I will even buy lunch!

@Myrtle Mike Thompson I am absolutely interested in South Carolina- I’m hoping to move there myself soon!

 These same city officials will be scratching their heads at the next city development meeting wondering how they are going to fix the housing crisis and why there are not enough affordable places to rent in their area

@Lexey Vezzoso I am absolutely interested in other markets! I’m looking at a few in Florida, South Carolina and Georgia. Once I scale up a bit I would consider some higher end areas as well

@Monte Riding Pittsburgh and surrounding areas is one of the places that interests me for investing - I’m also looking at parts of Florida, South Carolina and Georgia. I’ve decided that finding the “best” area to invest in is less important than just getting started!!