All Forum Posts by: Carrie Hallensleben

@Joshua Machen we are interested in south fork and I wonder if you remember who you went with? Did you buy a house or land? Are you doing short term rentals? If so, how is that going? Thank you for any info you have to share. 

We live in KC and are interested in buying some land or a small house in CO Springs as an investment. We would like a realtor to help us with this. Appreciate any referrals. 

@Lea Lenz If you are interested in going to any auctions come June, I'd love your company. We hit a couple last summer and it was really interesting. We went to platte county court house. I'd love to go to the downtown courthouse. The auctions are always during the week and I'm a teacher so not free except over the summer. 

@Amanda Olvera 

I am also a teacher and an investor. Always loved HGTV and the idea of real estate. It is an exciting field. For me, it is difficult to keep up in a way with focusing on real estate during the school year. It ebbs and flows with certain times more busy than others but LOVE summer for the time it allows me to spend researching, hitting auctions, driving neighborhoods, etc. It sounds like you are a high school teacher, I'm with the little ones in first grade. Good luck in your endeavor and reach out anytime:) 

@Jeffrey Nordin 

We are in KC and have a few rentals. My husband is a licensed general contractor and manages our properties. We'd be happy to talk with you about working togethe if you are interested in partnering on something or would like a remodel team. However, we are leaving for Germany in the morning so depending on wifi consistency, may not respond to posts until after New Years. 

If you are thinking about turnkey, I would definitely check in with Nathan Brooks here in KC. He has been on the show twice and my husband met with him for a mentoring session a couple years ago. He seems to be forthright and ethical. I know he knows the market and has a team which does quality rehabs. I've seen his properties online. He has really grown his business in the past year or two. Good luck to you! 

@Nathan Brooks

@Jon Holdman Thank you so so much! It is so nice to learn more as we try to sort this out. 

@Stephanie P.

Thank you for the info 

@Jon Holdman

That is where holding the property in an LLC comes in handy, right? So if we weren't able to keep up with the mortgage the bank would take the property but not others held in different LLCs? Thank you for the information.

@James Kojo

Thank you James for your input with regard to the HELOC terms. When we pulled money from the HELOC twice in the past, we refinanced that property after rehab and paid back the HELOC so it was less expensive but taking that money out for a longer time frame isn't smart at all. The information about leaving the money in the bank for a few months is helpful. The property that we would refinance and pull equity from is a rental property not our home. Since you have more knowledge and probably experience than I do, I hope I can ask you a few more questions. If we refinanced and had about $100K how would you recommend making a slow but steady growth plan? We were thinking that multifamily is better because when one tenant transitions the property is still making money. My husband is a GC and has done the work to rehab our properties and also manages the properties. So far our properties are in A neighborhoods while the multifamily properties we are considering are in C neighborhoods with more of a working class tenant base. Does that sound like the next smart step for building toward retirement?

@Dave Van Horn   

That is a good point about sticking with a four-plex to start. With our single family rentals, we have always put down 20%. Is the requirement on commercial higher? I know that one of the lenders we spoke with only offers 10 year loans so I am not sure if that is standard with commercial. Will keep digging. Thank you!