All Forum Posts by: Dustin Sanders

Thank you @Wayne Brooks!

Are the portfolio lenders the big banks?

Dustin

Thank you @Nicholas Covington! Very helpful response.

Do you have an example of an asset based lender?

Dustin

Hey BP,

I am spoke with my current lender, and they only allow up to 4 mortgages. I found out that I can get up to 10 mortgages by using a “portfolio lender”.

Are there ways that I can have more than 10 concurrent mortgages??

Thanks,

Dustin

@Myka Artis

Thank you! This is helpful. I just checked and renting out spare rooms is considered “hosted rentals”??

Hey BP,

I just purchased my 1st home and I’m wanting to legally “house hack” to help pay the mortgage.

I know I’m legally allowed to find roommates, but my question is, can I have short-term renters as long as I am occupying the primary residence? i.e. AirBnB & VRBO

Thanks,

Dustin

@Chris John

Thanks for the input Chris!

My sister is asking me when will she actually get to enjoy her money with enough in the bank?

For context, she is a nurse practitioner and her husband is a medical director so they’re making great money from a corporate employer perspective. They also hate what they do and would rather quit & be RE investors. At what point can they leave their comfortable $500k combined income? They have aspirations of having $1M in the bank so they can enjoy life with their kids, travel, etc.

@CJ M.

Thanks CJ! I like your style haha

@Dustin Sanders

Maybe I should’ve asked it this way:

I’m starting from zero ($0) and buying my first rental property. If I’m wanting to buy an apartment complex for $5M, how long will it take me to build up enough capital for a 20% down payment ($1M)?

@Kenneth Garrett

Thanks Kenneth! I understand the whole wealth building & generational wealth.

When will their actually be $1M in the bank? I get asked this question all the time from potential partners and I don’t know how to answer it.

Dustin

My question is, how long will it take for single family homes to produce $1M of CASH into my bank account?

Not asking about “wealth creation” I mean until actual cash is in the bank?

Thanks in advance!