All Forum Posts by: Cassandra Sifford

@Junior Soares Congrats on forward progress to financial freedom!!!  I'm a newbie with analysis paralysis :(  and am going to fund my 1st buy and hold multifamily with a HELoC.  What calculator do you use to analyze your deals?  I've run across a few on the site, but was wondering how you calculate your deals.  I have to get into gear as time is money!!

If anyone else has any calculators they use, I'm open...

Well wishes to you, your wife and your family :) ... Cassandra

Hopefully you have it in the budget to do a vinyl plank flooring.  I put it in my powder room and at my entry and plan on doing it in my dining room, kitchen and two other bathrooms.  Looks good, is sustainable and should last about 25 years.  Since the carpet is that old and others have complained about it, I would replace it.  If you put carpet in there  again, it's not going to wear well for the next 20+ years worth of tenants.  Spend the money now to get new tenants in there with the nice floors along with the updates you plan on doing.  Well wishes!

I'm new to REI and am looking at the rental pool being possibly shortened by it being a 2BR. Not sure if it's a community with families, semi-retired, etc. Have you canvassed the area and noticed other properties that have been vacant for a longer time frame or does the area seem to be rented at capacity? The HOA fee does seem high. What it covers doesn't seem to equate to the 10% that you've allotted so you're paying more and getting less. I'd offer less and see if they bite. If you're good with the numbers, hope for the best with your tenant and look forward to your cash flow!

Well wishes ... Cassandra

@Kristin Caras ... Welcome to the site of like minded, yet crazy individuals ... LOL There are some really awesome people here and their input and knowledge is so invaluable! Take plenty of notes and ask questions when you have them. Well wishes to you in where ever your REI dreams take you :)

Congrats on making the move to being a true investor!!  I too am looking for multi-family property and know that in the near future I'll be posting about my 1st investment property!  Well wishes on your 1st of many!!!

@Scott Lewis ... Welcome to BP and congrats on the twins :) I've been on the site for a couple of years. Trying to get past the analysis paralysis and let my brain soak in as much information that it can. Well wishes to all of us DE REI!!!

@Shiloh Lundahl ... Thank you for confirming what my Dad has been telling me all these years!  He ALWAYS said pay yourself 1st.  Other family and friends would always say you gotta keep a roof over your head.  He would always say bills will always be there, but you have to take care of yourself 1st!  I haven't always been the best with saving, but I've gotten better.  I get paid once a month from my full time job so it taught me how to budget.  I've saved money, purchased a good property and have great equity.  Next month will be my month to put me in a good place to apply for a HELoC to fund my 1st investment property.  I've been eyeing this triplex and I'm hopeful that its the one to start my journey to financial freedom :)

I posted something a few days ago about financing deals, but didn't get many responses.  I'll have to listen to this as I'm a newbie and was inquiring about creative funding for buy and holds after you purchase your initial.  I'm interested in utilizing my homes equity by funding my down payment with funds from a HELoC, but want to get into the 800 club to get the best mortgage rates.  I'm slowly, but surely climbing, but want to jump in so bad.  Well wishes BP fam :)  

@Ivan Barratt @Joe Villeneuve @Frankie Woods  I thank you for your input!  I'm trying to stay a few steps ahead so I can put a long term game plan together.  Sure I don't expect it to work out to plan all the time, but having a plan B & C is just me being more prepared for the what if's.

@Frankie Woods  I'm mainly interested in multi-family as my tenants would be under one roof and I feel that I'd be able to pay the property off quicker due to multiple rents.  I've recently started to run across more triplexes in my area and found one that may look good on paper, but I'm not quite sure of because of the renovations that are needed.  

Hello BiggerPockets! I was wondering what avenues you’ve taken to fund your initial investment property (preferably buy and hold)? When you were ready to purchase your 2nd, 3rd and so forth properties, what financial hurdles did you face and how were you able to overcome them? I’m trying to get a good insight so I know what avenues have worked and not worked for long term financing. Thank you in advance for your input!

Well wishes,

Cassandra