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All Forum Posts by: Chandra Towns

Chandra Towns has started 6 posts and replied 12 times.

Post: Advice on raising credit score

Chandra TownsPosted
  • Posts 12
  • Votes 7
Quote from @John Clark:
Quote from @Chandra Towns:

Looking for advice on my general financial picture and what I need to do to get it to a place to be able to qualify for home loans. 

Your question is impossibly vague as you provide no details. The only advice anyone could give you is to stop doing whatever it is that you are doing that is hurting your credit rating.

 I didn't want to put my personal information on here. I would like to work with a financial coach about my specific situation.

Post: Advice on raising credit score

Chandra TownsPosted
  • Posts 12
  • Votes 7

Looking for advice on my general financial picture and what I need to do to get it to a place to be able to qualify for home loans. 

Quote from @Ran Iarovich:

I will use an LLC if you are hoping to scale your cash flow in the future. I also agree with most hear that a DSCR loan will be your best bet if they can underwrite specifically for STRs.


 Thank you.

Quote from @Andrew Steffens:

If you are using a traditional mortgage it will be going in your personal name anyways. If you are getting a business purpose loan (i.e. DSCR) you will need an LLC.

Where are you looking to purchase?


 I live in Texas and looking to get started here, and then look to purchasing in South Carolina and Florida.

Hello,

I actively in the process of looking for AirBNB property. Do I need to set up an LLC first?

How did you obtain your first property? What financing did you use? 

Thank you.

Post: What would you do with $200k?

Chandra TownsPosted
  • Posts 12
  • Votes 7

Hello,

If we woke up tomorrow with $200,000, we would do the following:

1) Pay off all debts.

2) Create an emergency fund.

3) Invest it in real estate and other income-generating assets. 

4) Go on vacation. We love to travel.

Hello,

I have been reading " The Book on Rental Property Investing: How to Create Wealth with Intelligent Buy & Hold Real Estate Investing". As I'm reading I'm writing my questions down. One question I have is in regards to personal finances. We have a some items we need to take care of now so it doesn 't hinder us or becomes an obstacle in the future.

What are some must -do-first in regards to preparing yourself financially for real estate investing? How long did you take you to prepare yourself (and your family) personally before you started investing?

Thanks,

Chandra

Post: Training to be a Real Estate Appraiser

Chandra TownsPosted
  • Posts 12
  • Votes 7

Hello, 

I want to be a Real Estate Appraiser. I found the training, but I wanted to know what is it like being a real estate appraiser. What are some areas I can specialize in? How do I go about finding a Certified Reap Estate Appraiser to work under as a Licensed Trainee in Texas?

Thank you,

Chandra 

Quote from @John Underwood:

Set your goals higher. Aspire to be a Vacation rental host and not just an Airbnb host.


 Thank you. I started educating myself and learning the right language. 

Quote from @Brooklyn McCarty:

You're in the right place. 

1. They are short term rentals, not airbnb's.

2. Education: Start with Avery Carl's book Short Term Rental, Long Term Wealth. It is a great resource teaches you how to identify markets, analyze deals, and manage remotely. Lots of info in there. 

3. BP STR Bootcamp

Learn as much as you can; books, podcasts, youtube, fb groups! 


 Thank you. I added this book to list.