All Forum Posts by: Diana Jing

@Nandish Parmar

Sure, feel free to PM me!  We're in the process of purchasing some new builds in FL with RTR that we are very excited about.  The first one appraised well over what we are buying it at!!!

@Donald MacMillan

I think a standard 5% per year is pretty typical, but of course just post renovations an increase in rents is warranted as long as it's still within market value.  If a tenant moved out it would be unlikely they would find another place in better condition for cheaper further motivating them to stay.

@Lisa McClease-Kelly

Still happy, and still investing!  We're up to 6 properties in just over one year of investing!  Our goal is to get to 10 by the end of 2021 which should cash flow us around $3,500 to $4,000 a month.  RTR has been a huge support system for us in developing our strategy, and being able to expand to the point where we are at today!  We still highly recommend them.

I'm happy to answer any questions you have.

@Steven Foster Wilson

Thanks for the input.  Please keep in mind that this is not for a primary residence.  This question is pertaining to a secondary home loan where the lender specifies you have to intent to live there PART of the year.  There is no requirement to occupy it for the next 12-24 months like a primary residence loan does.  That is specifically what I'm asking about is "how long do I need to intend to occupy a second home?"  Can that be as little as two weeks a year, and then rent it out the rest?  

I want to buy a rental as a secondary home for 10% down financing, and lower interest rate. How long do I actually have to occupy it to meet lender requirements?  I know the lender has a disclosure I have to sign stating I plan to occupy the home at least part of the year, I just don't see any specific timeline associated with this.  So I was curious if anyone knows more specifics on this topic?  I know you are allowed to buyer a secondary home and rent it out, but I'm not sure if that means I can occupy it for two weeks, and rent it out the rest of the year or what?  The lender language just states "I intend to occupy the home for at least part of the year for the first year."

Any insight on this would be appreciated! 

@Gene Chandler

Thanks Gene!  Any idea how I find out about a DME conference?

@Gene Chandler

Are these your seminars you are putting on?  Is there anything virtual to watch on the topic?  Thanks!

@Jonathan Bigelow

My friend also did not have a pleasant experience.  They had to put about $8,000 of immediate repairs into a home just over a year after purchasing a property, and the management team did not do a very good job coordinating anything.  I think they are still in the negative, and then they offered to sell the property for less than they purchased it for. 

Are we seeing prices decrease already in Vegas like we did 10 years ago?  I think if they do it will take time, but I image Vegas is being hit harder than most locations right now as the whole city runs off of tourism?

Anyone else confused that the Fed keeps lower rates, and MBS bonds pricing is increasing that should lower rates, but rates are not following this?  I have no way of knowing why this is?