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All Forum Posts by: Dan Kim

Dan Kim has started 7 posts and replied 14 times.

Post: Is there a better way?

Dan KimPosted
  • Posts 14
  • Votes 4

Thanks for the response @Jason Wray! Instead of finding a home with a bigger lot, would it be better to just build a home from the ground up? Do you know if building a home has a smaller ROI from a cash out refinance than buying a home and adding rooms/sqft? I'm assuming so if I spend less on the purchase of the already build home. Also, can you do a cash out refinance on a home that I build myself rather than purchasing one?

Post: Is there a better way?

Dan KimPosted
  • Posts 14
  • Votes 4

Hey @David M. thanks for the reply! Definitely gave me things to think about. 

What if I purchased a SFH and MFH at the same time? That would essentially be 2 mortgages, right? Would that be a good move for a first-time homebuyer? I know there are some benefits for first-time buyers and I wonder if those benefits would extend to this situation.

Post: Is there a better way?

Dan KimPosted
  • Posts 14
  • Votes 4

My wife and I are looking to purchase our first home to live in. We're hoping to renovate and then refinance this home to have the cash to purchase our first investment property, ideally being a MFH. Since the goal is to build a portfolio, is there a smarter or quicker way to land our first investment property? We would like a SFH to call our home so starting out in a MFH and house hacking isn't that appealing to us.

Post: Just getting started

Dan KimPosted
  • Posts 14
  • Votes 4

Hi! I'm a rookie just starting to learn bit by bit about this crazy and exciting world of real estate investing. I feel a bit overwhelmed because I don't even know where to start, but I do know that I need to start somewhere. So I'm going to spend my time learning and reading as much as I can.

I'm interested in the BRRRR strategy for SFH or MFH. How do you know what market to focus on? Has anyone ever left their hometown to start investing in property in a different state? Apparently, there are certain areas where the rent from a SFH isn't enough to turn a positive cash flow; what kinds of areas are these?

I want to be smart about my first investment property. Any and all advice would be appreciated!