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All Forum Posts by: Cheryl Foster

Cheryl Foster has started 2 posts and replied 39 times.

Post: Task Management Software

Cheryl FosterPosted
  • Rental Property Investor
  • Anderson, SC
  • Posts 42
  • Votes 24
Search "best project management software/ apps," and/or "best team collaboration software/ apps." Decide on factors like integrations (will software need to have built in integration with other apps like Google Drive, Box, Skype Meeting, etc.?), how many team members need accounts/access, price, etc. Offhand, try SLACK, Wrike, Trello, and maybe Ring Central Glip. After watching the promo videos, you'll know "I like this, but I don't need that feature..." and your list will shorten.

Post: Starting as an investor with absolutely no money available

Cheryl FosterPosted
  • Rental Property Investor
  • Anderson, SC
  • Posts 42
  • Votes 24
@Andrew Noska - perhaps you can use your strengths in Information Technology to get started in REI. What about working (even on the side) for one of the many software and tech companies that support REI's? Even non-tech as a customer service rep, or sales rep? Databases, rental payment vendors, lead generation/database software/websites - they all are listed on BiggerPockets and must need good IT folks. Then, once "in" with others in the REI biz, your networking & knowledge increases & investment opps may be more available.

Post: multifamily is residential or non residential for water billing ?

Cheryl FosterPosted
  • Rental Property Investor
  • Anderson, SC
  • Posts 42
  • Votes 24
@Frank Chin - You are extremely helpful to this investor. Generosity with your time and expertise is what makes BiggerPockets great!

Post: The 203K Loan - Open Discussion

Cheryl FosterPosted
  • Rental Property Investor
  • Anderson, SC
  • Posts 42
  • Votes 24
@Billy Amberg- try OVM Financial outbof Virginia, who lends 203k loans, & lends in NC, and has a Renovation Loan rep. Good customer service. Good emailed articles. Find via an internet search.

Post: House Hack #2. How do I finance it?!

Cheryl FosterPosted
  • Rental Property Investor
  • Anderson, SC
  • Posts 42
  • Votes 24
VA Loan limit info: http://www.loanlimits.org/va/

Post: House Hack #2. How do I finance it?!

Cheryl FosterPosted
  • Rental Property Investor
  • Anderson, SC
  • Posts 42
  • Votes 24
@Daniel Diaz - VA loans info.: https://www.biggerpockets.com/renewsblog/build-wealth-va-loans/

Post: House Hack #2. How do I finance it?!

Cheryl FosterPosted
  • Rental Property Investor
  • Anderson, SC
  • Posts 42
  • Votes 24
Just some thoughts to consider. No need to reply, just my 2 cents. 1. You don't mention how much your interest rate is on your current VA loan. Can you do an IRRL (Interest Rate Reduction Loan) on this VA loan (to lower the payments even further & have even more cash flow monthly)? (Search for a reliable web link that explains IRRL's). 2. Can you refinance this current VA loan & pull out all cash, to be able to put it into the next property? Either a VA, or a conventional loan with no PMI, and then use your VA loan benefit again on the next 2-4 plex? 3. I know you want to "trade up" to a property worth more than your current property, but could you instead buy another similar property within the VA limit for your next 2-4-plex? 4. Could you buy a property in need of renovation and use the FHA Reno loan? 5. With the same $600k or so that you intend on spending, would you be better off buying a portfolio of properties that cost $40-60k each, in another market. See Clayton Morris's suggestions on buying "B class" 3/1 single family homes in certain (many Midwest) markets. Or invest with someone like Morris Invest who deals with turnkey rentals. Food for thought. Good luck!

Post: Monthly Northern Atlanta Real Estate Meet Up/Mastermind.

Cheryl FosterPosted
  • Rental Property Investor
  • Anderson, SC
  • Posts 42
  • Votes 24

Thank you for coordinating these events. I will attend in the fall. I will register for an event at that time. Appreciate it!

Post: Greenville county networking request

Cheryl FosterPosted
  • Rental Property Investor
  • Anderson, SC
  • Posts 42
  • Votes 24
Keith Frazier If you don't mind extending to the Anderson area, see Anderson Property Manager. Chuck, co-owner, was helpful giving us tips & sharing specific neighborhoods & areas in which to buy. Much cheaper than Greenville. 95% occupancy rate at their agency. Looking for more properties to rent. I rented from them while house hunting & they had a good process/organization. See their site.