All Forum Posts by: Taylor Dasch

I personally wouldnt - I am sure you could use the equity to get more than $600/month in cash flow however that would possibly require some work and risk on yalls end. Is there another way to pay off the debt? Also, you dont need that much down for a conventional or FHA loan that your going to househack. I would do my best to keep the property but there are definitely ways you can come out ahead by selling and paying off the debt/ reinvesting.

I definitely agree - not even solving problems like you mentioned - I think its mainly about solving the sellers problem. I have recently been made aware that I get straight to business without really concerning myself for the sellers side of the story and when you have the sellers problems, goals, etc. You are much more equipped to create a win win for you and the seller. 

Seems like everyone wants to wholesale here - The competition is really high - I dont really wholesale unless it makes sense for everyone but my advice would be to try and hit the lists that arent already super flooded ( pre foreclosure, vacant, etc.) 

Your realtor will be able to give you a much more detailed market specific answer but with house hacking and a VA loan it should be possible to get 0 out of pocket. For the second property, I would expect to have to put money into it in some fashion. Whether you do a HML or conventional. Unless you can find a PML or a partner who has the downpayment ready to go. How I would go about it is bring a deal to someone ( a friend or colleague) that I knew had money, offer them the terms I have in mind and continue until I find one. These will have to be decent deals and are less likely on the MLS. You can also find a deal and post it on FB requesting a PML. Also I feel buy and holds are harder to structure partnerships as its not that much money when split in between two people. Thats just my opinion though. Good luck and I hope this helps!

I like subto because I cant qualify for an investment loan right now so its a huge benefit, also lower buy in than an investment loan but I agree with you that its not that hard. I wouldnt pay any money for it, I believe the learning part is learning how to find deals / pitch subject to. To me all of those programs seem way overpriced for what you actually get out of them. 

Thats so awesome! This is the way to start in my opinion! And to make things better the seller reached out to you aha. Good luck on your journey and keep it up!

100% agree that the way to actually make money in real estate is through appreciation, however I think there is a point for that in every investors journey. At the beginning, it may be difficult to get a more expensive property that will appreciate well and so your choice is go with the cheaper property and get cash flow until you can sell and upgrade, or wait for a really good deal which you may be waiting for quite a while and its possible that you will have spent so much time waiting that you could have purchased multiple cash flowing properties by the time you get a good appreciation deal that you can qualify for / refinance after the rehab. i know anyone can go out and get seller financing deals, HML, flip to build capital or whatever the case may be I am just saying sometimes those will be harder and could result in less deals overall.

Absolutely love this post! By the time we get to a seller who wants / needs to sell we are normally burnt out and arent being the best versions of ourselves. Keeping this in mind can definitely help!

I probably dont have a good comparison as I only know/invest in my local market. But me and my clients have had great success with MTRs here in Temple, TX - its about the only thing cash flowing well in my market right now.  For LTRs Temple still has some older homes that will cash flow a little after all expenses are taken out. Killeen / Harker Heights area also will be more of a cash flow heavy section in my market. Hope this is of some value to you! Definitely worth looking into in my opinion. 

I think about this often, its really just running the numbers - if you borrow 100k at an 8% interest rate, will the investment get you more than an 8% return? Personally, If I could pull out a HELOC, I would use it to fix and flip which will typically make sense as you shouldnt be keeping the money out for that long and you can recycle it or pay it back and build off the capital that you got from. the flip.