All Forum Posts by: Don Ellestad

Situation: I am 21 years old, I own a trucking company that pays 100% of my monthly expenses, I pay myself a salary (Filed as S Corp) I'm not brand new to the investing world but would like help from more experienced investors on how to invest my salary.

Question: In your opinion, how should I start investing for retirement? The first decade a lot of my investment allocation will be real estate, but I would like advice on investing maybe 10-20% into more passive, compounding investments.

So I made no income on tax returns the past 2 years because I served a 2 year volunteer church mission from 2017-2018. I am making about $80,000 plus dividends from business income. Is there anyway around the 2-year income requirement? Note: I am trying to apply for a FHA loan on a single-family town home used for student housing.

Also, does the Baylor Market tend to do school year leases or 12 month leases?

@Roy Gamiz

Thanks for the response!

Yes actually, if you don't mind sharing, What kind of properties work well for you? Do you find problems with cash flow or find it hard to find residents?

Hey there! 

Does anybody have any success or horror stories from investing in the Baylor Student Housing market? Specifically buy and hold investors

Thanks for the information!

So do banks do FHA loans on student housing properties? If it's technically a duplex but there are 4 beds and 4 baths in each making it possible to rent each of the bedrooms out. I would live in one of the bedrooms.

@Jerry Padilla

Thanks for the response.

What if it wasn't specifically for repairs or if it was done "under the table" as they say? 

I am not trying to pull one over on the bank. I an just curious as to the legal implications of such a deal. 

If I were negotiate with the seller receiving that they would write me a $15,000 check after closing for repairs, would the bank have a problem with that? That would be greater than my down payment. 

I own a trucking company and I cureently drive for the company. I am usually away and living out of my truck for more than 6 months out of the year. I would say I am in my truck 75% of the year away from home. Could I still get a FHA loan for a duplex that I would only be at 25% of the year if that duplex is my only living area besides my truck? That is to say, would banks consider it my primary residency?