All Forum Posts by: Dylan Marcelle

@Kenneth Garrett

I’ll definitely look into it, i appreciate the help!

@Kenneth Garrett so this was actually my initial train of thought, but i had discarded the idea because i have been under the impression that my LLC would need around 2 years to build enough credit to hold a loan out of my name. If I can, i would like to go that route, is that something i would just have to talk with my lender about?

Around three years ago, I fell in love with the idea of real estate investing. Two years ago, I bought a SFH and house hacked for the first year. Now, it cash flows as a rental property.

Here's my problem. I was lucky enough to be appointed to the Air Force Academy for the upcoming school year, which starts in 2 months. Unfortunately, I wasn't aware that cadets aren't allowed to have any personal debt until after I was accepted. I have tried communicating with the school to work around their policy on debt, but haven't been able to get any straight answers. I would really like to keep the property because I can refinance with a rate that would increase my monthly cashflow x3, and I feel as though I have enough money in reserve to cover any problems that may occur throughout my time at the academy (4 years). I also think I would have a hard time selling the property given that I currently have tenants on a year long lease, not to mention the current Covid-19 dilemma.

My question is, does anyone know of a way that I could keep the property without the debt being directly under my name? Any ideas or advice would be helpful! 

If you are confident you can make all your monthly payments while being able to put some $$$ away, do it. I'm currently 21 and living in my first house hack, only 7k out of pocket up front on a conventional loan. I love having my tenants pay my mortgage. Now that I've been doing it for a little while, i'm already able to start considering a four-plex, hopefully it will happen in a couple months! 

It takes a leap of faith to jump into REI, but it's one you wont regret!!

Come join us for our first Military REI Mastermind Meeting! This is a great opportunity for military members to learn the basics or expand upon what you already know. Even if you aren't affiliated with the military, come join us to grow your network! Parking is limited so show up a bit early to find a spot.

Hope to see you there!

Investment Info:

Single-family residence other investment.

Purchase price: $145,000
Cash invested: $7,000

This is the first investment property I have acquired. Currently I am house hacking, but looking forward to moving out and renting it out completely .

Investment Info:

Single-family residence other investment.

Purchase price: $145,000
Cash invested: $7,000

@Cassi Justiz Thank you for the input! Ensuring the current tenant was okay with the extra renter was my first priority. I am glad someone else thought the current renter should be compensated, everyone I’ve talked to outside of bigger pockets was trying to convince me otherwise.

Currently I am House hacking my first real estate deal. It is a two bedroom two bath house. In the coming weeks I am going to have another roommate move in and live on the couch for awhile. My question is, should I lower my current renter's rent payments because of the added tenant? or should I keep all the added profits for myself. Thank you for any input you may have on the situation. 

@Brandon L. Thank you for the articles! All tailored help is much appreciated.