All Forum Posts by: Daniella Sanchez

Depends on the type of loan. What kind of loan is it?

Cover up all the windows for sure. You don't want any outsider to see in. Also if you have someone in that area you can trust, ask them to drop by occasionally to check on the property. Watch out for the squirrels and raccoons too!

@Chad Duncan

I'm in the same boat. I am finishing up renos here at my first single family purchase and I also house hack so I'm living here. I've increased the value of the home over 40k in 4 months and we have only spent roughly 5k on materials (we do the work ourselves so no labor). Now I'm thinking what I should do next... Sell, rent it out, pull equity and purchase a new house hack. Help! 

Networking. You can find on here local networking events and meetups. 

It doesn't hurt to continue to look on the MLS though. I have 2 full time investors that invest in different areas so no conflict of interest for me. I consistently prowl the MLS for them and I've found them several properties off the MLS. Some of those foreclosures and some of them just really good deals because the sellers are motivated.

Hi Hoang, 

You can post on Facebook Marketplace, it's really become a place for more than just social networking. In college I subleased my apartment through Facebook 3 times and didn't have an issue. You can also change the setting on your facebook account that will make your account private to anyone you're not friends with (you don't have to be friends with your potential tenants). This way, they can respond to your for rent ad, but they will not be able to see your facebook profile and all that you post on there. 

That would be a good question for your loan officer. Your mortgage lending company will have those terms written in the contract you sign at closing and somewhere in all those papers there will be information pertaining to occupancy. 

In IL there would have to be 3 written requests for maintenance or repair from tenants in order for neglect to be established. Emails don't count in the state of IL. I am not familiar with Texas law but this might be a good starting point to inquire about. 

Hi there, 

This is interesting.. I am a real estate broker and I hadn't thought about a license in contracting. My initial thought-- don't branch out unless you want to go full time with contracting. My mentor has said before "focus on what you do, and let others do what they do." I interpreted this as something similar to opportunity cost. I also think about what a client would think if they compared a resume filled with different titles and licenses versus someone who only had a license and history under one title. They might think a person who has only practiced under one title their entire career might be more of an "expert" compared to the other.

Are you on a strict budget? Do you have a particular design style you're trying to stick to? I'm only on my first flip but the first thing I did was to go to Habitat for Humanity (restore) and look for a vanity that fit the style and design I was going for. Vanities there are typically under $100 and excellent quality too.Then again I'm in Chicago IL it could be different for you.

Shop around and ask several different banks.