All Forum Posts by: Brian Reinholz

Thanks Lucas -- lately I've noticed some steel canopies being used around town and I'm going to ask some folks how well they hold up under the snow. Thanks for replying.

Hey Folks,

A lot of people online & on BP talk about how you can house hack and get lower interest rates and lower down payment ... even on a second home. 

Assuming someone does not qualify for FHA/VA/USDA (second home / not military), have you actually been able to get a 5% or 10% down loan? If so, how hard is it? Are there a bunch of other considerations, such as having to cover more closing costs (that was one thing I read about).

Hope this isn't too dumb of a question, I've just heard a lot of people talk about it but have yet to actually hear the details of how someone goes about doing it. The idea of house hacking a 4-unit and only putting 5 or 10% down (and getting something like a 4% vs 6% interest rate) is very attractive!!

For context, I own 3 properties, and credit & income should not be an issue.

Thanks,

-Brian

Hey folks -- I have a 4-plex that I'd like to consider an affordable parking shelter for. I'm hoping there's some middleground between an expensive garage and a cheapo canopy. There's a nice plot of gravel in the backyard where something could be put up pretty easily.

Anyone have any experience building some type of carport that can go up quickly and still handle snow?

Hey BP folks ... I'm a relative newbie investor with two homes currently and the cash in hand to acquire one, likely a duplex.

A lot of the webinars talk about ... what's your why, what's your goal? It seems like the "goal" ultimately boils down either to a net worth $$ amount or a passive income $$. (IE, financial freedom is when my investments pay $5000/month in cash flow.) (OR, once I've reached $1-2M in net worth I can cash out and live off an annuity.)

Not sure if I'm thinking about that right, but that seems like the two primary "paths" -- not that they aren't interrelated, but it's relevant because it dictates how much of an appreciation play / vs / cash flow play you're going for.

I'm 30, I'd love to make "the plan" to hit "the goal" at 50, that seems achievable, but I'm having a hard time wrapping my head around those 2 paths/end goals and how to "SWOT" the routes for achievability. I guess the net worth goal seems easier, because you could simply get 5+ properties and run them till they're paid off.

Thoughts?

Hi, none of the STR discussions seemed to hit on this exact point. I'm looking at some properties that are fourplexes or two duplexes on one lot. I want to STR (vacation rent) one unit, while using LTR on the others. All legalities look fine in Rapid City, something zoned for rental can be used however I want.

It seems like a unique deal that will give me some fire insurance on my first foray into the STR world, while also giving me the added flexibility of using the STR. I live 2 hours out of the city, so having my own property to book and stay in would provide a huge personal benefit in terms of being able to head into the city more without the stress or hotel fees.

I guess I'm mostly hoping to hear if anyone has done this ... my initial concerns are (1) potential complexities with how the entity is set up/ business or otherwise/managing the books, (2) negative perception among vacationers in a complex or duplex format, and (3) finding a property manager that can manage some of the nuance of STR (such as cleanings) with the general maintenance of LTR. I would handle the booking/marketing/communications.

So...anyone walk a similar path by chance? Thanks!!