All Forum Posts by: Caitlynd Fawn Born-Dohm

@Scott Winter 

Thank you so much! Will do!

@Bronson Simmons

"4) The impending sense of our life savings shrinking into nothing because of inflation." Funny but true! This motivates me as well.

@Scott Winter That's a great way to put it! "Everyone will need their own catalyst." I think I am still looking for mine; wouldn't it be great if it was easier to find local investors? I feel like there's none in my area. How did you finally connect with people looking to get started as well? 

I definitely suffer from analysis paralysis. I am hoping, though, that getting my real estate agent's license will help mitigate some of it, because I really want to enter the world of REI, and after spending so many months learning about it, I believe in it. I believe everything experienced investors say to be true about REI. I have to say, though, something that helps me when I start to freak out is simply talking to someone else. My significant other, or my mom. I don't really have anyone in my life that is a real estate investor (that I know of), so I am trying to start opening up to more people about this new passion, because I realize I will never complete my first deal if the only people I share knowledge with are the voices in my head! Lol.

@Nicole Heasley Beitenman I'm glad to hear that is perfectly legal! I know P/HML don't do FHA loans, but how hard is it to refinance into an FHA or conventional loan after using hard money to initially purchase the home?

@Michael Dumler That is currently the route I will try to take. I opened up to my mother about the wonders of real estate investing, and she is now open to the possibility of cosigning on a house for us. If we cannot qualify for something together, do you think I would have any luck looking for a partner here on BP, or should I try to find someone I can meet up with locally for my first deal?

@Michael Dumler So far, the only thing I found available is hard money, which I do not feel ready to risk, at least not until I have some more experience and understanding when it comes to refinancing under my belt. I am not currently pre-approved with a lender, but I tried about six months ago, and my main issue was not being able to provide two commission-only tax returns. Do you know of any lenders that are beginner-investor friendly? 

@Michael Dumler Definitely easier said than done! I have been trying to find private funding for about a week now, to no avail, but I know it takes time. We have a lot of waterfront properties where I live and I am hoping I can snag something nearby the water to make it more desirable for STR's and LTR's alike. I just joined a neighboring county's REI zoom group and attended a meeting this morning. I am so excited to begin investing! I wish it could come sooner than later.

Hey guys! 

Next year, I intend to purchase a home for the first time. I want to aim for an FHA loan with 3.5% down. I want to buy at least a triplex (preferably a fourplex), live in one unit for a year to satisfy the FHA requirements, and use the other three units as short-term rentals. What do you think? Is this legal?

@Steven Goldman I am in a similar situation, except I live in Florida. So far, I have had lots of trouble finding private funding for the purchase of an Airbnb, because it will also be my first home purchase, and I don't have 20% down. However, I do have great credit, and I am eager to learn. Do you think you would you be able to help me?