All Forum Posts by: Taylor Dasch

Spend a set amount of time educating yourself and then jump in is my advice. A lot of people just play the waiting game and never get started. Once you get started, you can learn more and get hands on experience. Good luck!

100% and this pretty much applies to everything lol. 

I think that it depends on the closing date and how long it will take the HELOC to close, I know that if I could go back, I would have done a HELOC a long time ago, it can be a great asset to build you portfolio and if I were you and I had the option, I would doi it regardless of the outcome of this next deal.

Why would you have to evict her? Do you have to sell it? You may be able to carry a note on the property but I believe it is hard to find lenders that allow that.  Could whoever cosigned the lease cosign the mortgage?

There is always more potential for cash flow in lower class neighborhoods in my opinion.  Your process seems like a good way to determine cash flow / potential of an investment property, if you have a realtor you can have them pull rental comps for a decent picture of the rental markert as well. 

Thats probably about right for an investment property, the interest rates that are advertised are typically based off of the best credit and you will also have a higher interest rate with it being an investment property. I'd speak to a few more lenders though just in case. 

It depends on your income / DTI and also what kind of loan you are going for. I would speak with a lender and see what your options are - also they will be able to tell you exactly what you would need to do to be able to qualify.

Yes, it was huge for me. The main thing that I got from it was tracking my contacts - I tried for 100/ week. Then it also showed me the value in the follow up and just adding value to your clients/database in general. I'm not sure how much it applies to investors, however you can always make investor contacts and then follow up with them with a monthly investor email or when you get deals that you need to offload. 

Congrats! Thats a huge step. I feel like after the first property, you realize that to scale your portfolio you wont be able to keep getting conventional loans with 20-25% down. So you have to buy at a decent discount with HM or PM, to get a decent discount you will have to network with wholesalers, cold call, door knock, etc. The other option is to flip until you build the capital to buy and hold. 

 Thats still a win, I think its better to do monthly or quarterly goals instead of yearly because over a year I make so many pivots due to learning more information that my goals are not applicable a year later lol