All Forum Posts by: Collin Wallace

Hi David ! I am a bit confused, you mentioned that you would need a 20% down payment for house #2 that you would be moving in to. Assuming this would be your primary residency and you would rent out house #1, why not just put down 3.5 or 5% on an FHA ?

Would it be an option to increase rent by 15-20% based on the fact that there is now another tenant living in the home?

 Hi Nicholas, facing this problem now of finding/advertising 'rent by room' for my upcoming house hack. What resources did you use?

 John ! So wish I was still in the Greenville area and could make this meetup ! Praying for you brother, sending love !

Wow ! Parker, how did you go about finding renters, particularly college students? How did you market your property?

Praise the Lord brother! New homeowner here in CA. Best of luck on your journey, keep your eyes on Him !

Very neat idea ! Your initial $8,000 investment was primarily furniture? Also, are you managing the property yourself? ie cleanup , or is there a company you use and include that fee in your overhead, thus cutting into your ~$1,100 cash flow per month?

I would reach out to the Management company and get a list of where they are listing the home. And possibly express that you would like the home listed on site x, y, or z and go from there. 

Hi Nicholas ! I would consider a few things here. Are you both using realtors? Or would you be purchasing as a FSBO ' For sale by owner ' ? This might be a better move as you would cut down on potentially 3-6% in closing costs.

If you want to post the property address we could start helping you look at comps in the area to get a ballpark of the home value.  I think this would be the first place to start. 

Hi Nicole, I would reach out to your lender or escrow company and get an itemized break down of each of those 'Fees'. This has definitely helped me understand just exactly what is going into the final cash to close amount. Hope this helps :)