All Forum Posts by: Cheri Castro

@Christopher Phillips I'm waiting on seller disclosure and roof estimate. You cant get certain financing without viable life on the roof. It has tonpass wind mitigation in the state of Florida.

@Christopher Phillips

FHA will not finanace a home without a roof completed. I could pay for the roof or the owner will pay with a price adjustment. 203k is available too.

Conventional loan will alow the roof but, I also hear they have a roof program (like a 203k) with lower rates compared to a 203k.

My goal is to drive up equity, buy and hold to rent out in 2 years.

I found a home that is move in ready; Minus the roof which is 21 years old. It's a 3/2, granite counters, wood floors, tile kitchen and bathrooms. Huge screened in lanai in a prideful pocket neighborhood. Great starter that's move in ready. Its listed at $269,000 "knowing the roof has reached its term".

I plan occupying this home for 2 years and then renting out.

Question: My plan is to rent it out in about 2 years. Do you think its better to pay for a roof cash? or roll it i to the loan? What strategy should I use?

What is the best strategy to use?

I found a home that is move in ready; Minus the roof which is 21 years old. The listing is a 3/2, granite counters, wood floors, tile kitchen and bathrooms. Huge screened in lanai in a prideful pocket neighborhood. Great starter that's move in ready. Its listed at $269,000 "knowing the roof has reached its term".

I plan occupying this home for 2 years and then renting out. I'm currently a w-2 employee and so is my husband. I have saved enough money to pay my bills and portion of the mortgage for 1 year. I also have $50k in savings and $20k in a 401k. I plan on converting to a 1099 by July and going 100% in real estate investing and a working licensed agent in the state of Florida.

I want to grow my portfolio and find single family homes or multifamily with minor renovation needs and rent out.

Question: My plan is to rent it out in about 2 years. Do you think its better to pay for a roof cash? or roll it i to the loan? What strategy should I use?

What is the best strategy to use?

I found a home that is move in ready; Minus the roof which is 21 years old. The listing is a 3/2, granite counters, wood floors, tile kitchen and bathrooms. Huge screened in lanai in a prideful pocket neighborhood. Great starter that's move in ready. Its listed at $269,000 "knowing the roof has reached its term".

I plan occupying this home for 2 years and then renting out. I'm currently a w-2 employee and so is my husband. I have saved enough money to pay my bills and portion of the mortgage for 1 year. I also have $50k in savings and $20k in a 401k. I plan on converting to a 1099 by July and going 100% in real estate investing and a working licensed agent in the state of Florida.

I want to grow my portfolio and find single family homes or multifamily with minor renovation needs and rent out.

Question: My plan is to rent it out in about 2 years. Do you think its better to pay for a roof cash? or roll it i to the loan? What strategy should I use?

What is the best strategy to use?

I found a home that is move in ready; Minus the roof which is 21 years old.

I plan occupying this home for 2 years and then renting out. I'm currently a w-2 employee and so is my husband. I have saved enough money to pay my bills and portion of the mortgage for 1 year. I also have $50k in savings and $20k in a 401k. I plan on converting to a 1099 by July and going 100% in real estate investing and a working licensed agent in the state of Florida.

I want to grow my portfolio and find single family homes or multifamily with minor renovation needs and rent out.

Question: Do you think its better to pay for a roof cash? or roll it i to the loan? What strategy should I use?

What is the best strategy to use?

@Whitney Hutten Great points! I'd like not to move again for 2 years if possible. Im so lost. If I buy as a personal residence, fix and flip may not work because I will be 1099 after reno.

If I start out buying through commercial I may pay too much up front.

My husband is W-2 and earns enough to support the family. However, My savings will cover my portion to protect our current lifestyle. We slowly have been modestly reducing expenses to work toward financial freedom.

The financing options are what is making my head spin.

Interesting... How did you begin your buy and hold journey? 

I'm building my team so i can jump on good deal as I find them. It's hard to invest in my area as I feel I won't be able to gain a good yield on my return. I'm entertaining other states such as TN, SC, NC, TX and remote areas of FL such as Tampa and Jacksonville.

I'm ready to hit the ground running. This is a male dominated field hence all the questions.

@David Stone What dod your first deal look like?

I too am an agent. My husband sounds like your wife. We are about to transition and I am debating on renting or buy personal property 1st. I am not sure if this is the best route considering I want to begin investing.

@Clifford Paul Did you buy your personal property first? Or after all your investments?