All Forum Posts by: Cody Barna

@Heather Carrow it sounds like a tough situation, especially considering you plan on doing owner financing. I can see that being a challenge, maybe she has a close friend or family member that can help facilitate the process.

@Kasey Destache I would encourage you to take as many of the online practice tests as you can, some are free and others might have a small fee. I'd also recommend reviewing the section review at the end of each chapter and familiarize yourself with the terms used. This is coming from someone who passed the test on my first attempt, I spend months studying extremely hard and it was still challenging. (There's also a handful of educational YouTube videos if you search for RE exam prep.)

Hey @Koen Ballantine what kind of property are you looking for?

@Zach Click no worries, best of luck!

@Arie Slaa I wouldn't put down 20% on the 3rd property especially if you're concerned about rental income from the condo. Considering you have a lot of equity, if you're able to pull out a small amount to fund a 3-10% down payment without significantly effecting the cashflow that may be ideal. I would hold onto the townhouse and rent that out once you move into the next place, what kind of property will the third one be?

@Zach Click that's a great idea to get started with a house hack, it's more challenging to find low down conventional loans for multi family properties. However I've heard of many investors who were able to get them, I would try shopping around a bit more. Unless you're willing to get creative and use private money to purchase the home then refinance into a conventional loan.

@Samuel Hoston it really comes down to your personal situation, if you're in your 50s with a nice house, car, etc, and a significant amount of personal wealth then using an LLC may be smarter. Compared to someone in there earlier 20s just getting out of school driving a cheap car and renting where they live, doesn't have very many assets to protect.

@Scot Finn no worries!

Hi @Scot Finn nice to see more NH investors joining BP! I recommend turning on keyword alerts for New Hampshire, I've seen a few posts regarding meetups in the last month or so. If there's ever anything I can do for you, don't hesitate to reach out!

Hi @Courtney Stevens there's a lot of good areas in NH to invest, from Salem all the way up to Lincoln. A big factor is whether you'll be renting the additional unit(s) short or long term, that can greatly effect the potential returns. Finding an area that is relatively close to major employers can make a big impact long term. Where as being in close proximity to summer/winter attractions can effect occupancy short term. Property values are going up extremely fast right now, but interest rates are so low that it helps to offset it. Regardless of market conditions it comes down to the numbers and determining what makes sense based on your criteria. If I can help you in anyway don't hesitate to reach out.