All Forum Posts by: Dan Travieso

If the numbers work it would not matter if it is your primary residence or not. Just keep in mind that if you refi your current residential after you  move the interest rate will be higher since it would no longer be considered your "primary".

Perhaps you can treat the $50k as a hard money a property that fits a BRRR strategy that you can payoff the loan after refinancing. There is always a way to continue growing your real estate portfolio so don't give up!

Have a property inspector go thru and send the report to a couple general contractors for a cost estimate. Or if you have a property manager in the area ask them to do a walk thru.

I am still buying but the numbers must work for rental. Not doing any speculating that market appreciation will be continuing nor am I going to do any flips right now.

Josh is right, margins to thin. Entirely too risky... But assuming the numbers were good (and to answer your question), best option would be to BRRRR if you decided to keep as a rental. Use hard money or private lender to purchase the property. Depending on the bank, you can refinance after 3-6 months to get out ~80% LTV which should give you back most of what you put into it.

There is much more to invest in than stocks. Yes, during a recession many stocks will go down in value but other investments may increase as investors shift their investments to other things (bonds, precious medals, real estate, etc.). Bottomline, in even the most brutal of recessions (2008 for example) there is always something to invest in to increase wealth.

Welcome John. Today's COVID world provides lots of opportunities for folks like you looking at learning the ropes as many Meetups are virtual. My two cents, don't limit yourself to just meetups in Broward county. Take advantage of any virtual meetup wherever it is and gather as much knowledge as possible.

Going to come down to how the area appreciates. If you are in it for the long game and the area has strong appreciation than I would invest. If the property is an area with no appreciation than I would not invest as we can get a much higher CoC return thru other investment vehicles.

I agree with Suzanne Sevier. Speak with small banks. Don't get discouraged if you are told "NO" 5 times. You are only looking for one to say yes. It would also go a long way if you could put down a decent down payment. Perhaps you can do a couple wholesale deals to raise some cash.

Continue increasing your education by listening to podcast and reading books. You also should start networking with fellow investors and real estate agents. Some of the best deals will come from your network. You also need to start working on identifying your target market. If it is local to you than I would consider driving neighborhoods frequently to get the lay of the land. Find the up and coming neighborhoods, good schools, etc.