All Forum Posts by: Cody Wilson

I have also tried to register and I am getting the same "Sorry, this coupon is not available"

Has anyone figured out how to get the discounted rate?

@Alex Deacon I had called MACE yesterday and it was mentioned that the Mon Valley wasn’t in the area of coverage. 

I know there are some portfolios out there that are being managed 3rd party I just haven’t found any advertisements for management in this area. I’ll have to reach out to more investors in the Mon Valley. 

Anyone know of a quality property management company servicing the Mon Valley area(Belle Vernon, Monongahela, Charleroi, ETC)? I am looking to expand and trying to find recommendations from those with experience.

Thanks in advance!

@Carl Fisher

I guess it was just wishful thinking and yes, it would be great to be able to save a little more income. I feel they already have 2 hands in my pockets with my W2 income!

Thank you for the feedback! I am going to continue to gain some initial experience in investing with my current property and in the future look to invest through a SDIRA once I convert my old 401k account to a SDIRA.

I own an investment property outright and I am curious if it is possible to transfer deed from my name to the SDIRA account I would set up? Would I be able to sell it to my SDIRA or would the deed just transfer with say a $1.00 transaction?

Thanks in advance!

Hello everyone, this is my first time actually getting a chance to really get out there in the discussions. I am under contract with my first property, which is a 4 unit building with inherited long term tenants.

Currently the tenants pay $475 in rent, roughly $75 under market rent per unit($550 for 2BR). At the moment, the current landlord pays water/sewage for which the tenants then reimburse him. On average the water/sewage bill per unit is ~$41mo. 

I was hoping to hear how risky it sounds to raise the rent to $550 and cover the water/sewage bill myself without spooking off my current tenants. Any idea how to explain the price increase? ... Should I simply state "In order to be more in line with current market rents along with now covering the water/sewage bill for a more streamlined lease agreement, etc. etc."?

Hi All!

New forum member here, been spending a lot of time reading as a guest but finally deciding to make my first post as me and my partner are looking to relocate from Pittsburgh to Charleston SC. She is a high school teacher and I am an electrical engineer.

Chasing some first time rental/house hack advise…

An opportunity has presented itself in Charleston SC (I went to college at The Citadel for two years) and it has sparked both me and my girlfriends desire to relocate to the area. We have narrowed our search 2-3+ bedroom units/or duplex either set up with a mother-in-law suite or some other form of detached living from the main house to allow us to afford downtown living. The upper end of our budget is around $700,000 for the type of home we are looking for. Projected rental income would be in the $2-3000 range depending on number of beds.

Doing some research, it does not appear I will be able to have lender factor in the projected rental income when calculating the DTI. With 20% down at our max budget of $700,000 our DTI will be in the 33% range.

The short term goal is to live in this house for 2 years, build a landlord history and eventually purchase another house in the area and use the original for supplemental income. Currently been living in our Pittsburgh house I purchased 1 year ago and have 30% of it paid off. May rent it to a family member after we relocate or sell.

Questions: Will I be able to secure a conventional mortgage with the 33% DTI? Have heard from some it is possible with my credit score as long as I have 6 months of reserves. If I keep my Pittsburgh house and rent to a family member my DTI will be 41%, is that possible to get a conventional mortgage for?

Is this too ambitious for a first time investment? By itself it would only carry a 33% DTI, but we plan on beating it down to around 15% after rental income.