All Forum Posts by: Christina Swaby

I'm looking for a software that makes it easy to upload and track expenses, income, etc. You know all the things for taxes, profit/losses. I've been rolling with trusty excel but as we get more houses Im interested in upgrading to something else.

HI Chad, I am in Houston. We use our HELCOC to fund our investment properties (purchase and rehab). Texas has some weird laws that don't allow all banks to have HELOC options. Local Texas only banks will be where you can find them. Ex, can't get one through Chase bank here, but went to our local Credit Union. We love the ability to move cash in and out of the heloc as needed. A 40K rehab doesn't sound too bad either. Good luck and hope it goes well for you!

a lot of people will poo poo this, but I also live in a market where cash flow is low, property taxes are high and properties are expensive (which is a relative term). We are currently investing 1000 miles away and doing our second flip there. The Long Distance Real Estate Investing book by Bigger Pockets is gold! I used the script in the book to find an agent, and contractors to work with. 

Where we invest we have family so we do visit a few times a year and can always have family go visit the property. If you do have a place like that it's something to consider. 

Hi Apryl! I totally get this. Im the dreamer (although well researched dreamer) and my husband is the risk-adverse. I try to speak his language. So when I first started, I literally made a spreadsheet of how investing in real estate was better for college planning than 529 plan. Mapped out the money long term. that peaked his interest and he agreed to let me get a rental property. I have found it takes one success to get him to see it. Now we are on our 3rd project. 

Good luck! 

This is my second time working with 2 guys on a house I am flipping. We have a good working relationship. I was curious if anyone has ever done anything like provide incentives or bonuses to your contractors for completing work early? This particular project is running late and now of course I'd like to get done faster. Im worried though that providing a such a thing would lead to hurried or sloppy work. Any thoughts?

We just finished up our first long distance fix and flip. Closing on July 3rd. I found the long distance real estate book from Bigger Pockets to be helpful. It provides insights, email scripts, and things to look for when building a team long distance. From that I was able to find a great realtor and a duo general contracting team that has been very reliable- chatting with them almost daily and doing a video walk through once a week. They'll be working with me on my next one (looking at other houses now.) I also joined a local facebook group where I was able to source things like lawn mowing. 

I will say we have family connections to the area we are targeting and we go up there 2-3 times a year in general. And we have the ability in life to hop up there (it's almost 1000 miles from us) should we need to. If we didnt have these things I'd be hesitant to get started in long distance.

Great information and examples from everyone! thank you for your time. This is very helpful. 

I have wonderful tenants and their lease is ending on August 31. I want to renew at the same terms of the original lease (which was created and provided by my realtor and I dont have access to that document now). Trying to do the lease renewal myself. 

Any thoughts as to using the Lease extension vs Lease agreement form?

Hello! I am looking for a lender who offers a HELOC that requires interest only payments during the draw period. Im located in Houston, TX.

 Thank you Andrew! Ill watch the video. Appreciate you sharing your tool and your insight into long distance. We do have an extensive network there, already own some property, and are in the area several times a year. Our lifestyle allows up to hop up there should there be some pressing issue. But I do recognize the extra challenge of not being to just drive there.