All Forum Posts by: Eliza Alexa

The tenants REALLY aren't going anywhere now. Great job. 

@billbrandt Thank you for the direction. I currently live in the townhome until the FHA duplex close next month-which I learned to buy that way with 3.5 down on here. I simply would like to maximize my money/options. I only thought of selling due to a poster putting their home on the market at they said "was a a ridiculous price just to see if any interest" & they received a full cash offer.

I would not have thought about a cash refi until you mentioned it. Am I allowed a cash refi with a new FHA? What will be the smart move after the cash refi if I am allowed? You pros make this seem so easy but it is confusing.

I "try" investing with the knowledge I get from BiggerPockets.   I bought a Vegas townhome cash  in the middle of the RE crash during the GFC of 2008-just as you guys taught.  The Property increased by 147k .  (SIDE NOTE: I lived there & had income using it as a room househack  at first & then a full rental after another RE purchase- just as you guys taught) 

Numbers & market say sell the home however, the property is literally 3 blocks from strip, to airport & UNLV-location, location, location-therefore confused on sell/don't sell. 

If the answer is to sell then what to do with the money?  I want to go to the next level- I just don't know how.  I would like to know what the Professional Investors are doing & maybe I do the same.

Thank you for your knowledge pointing me in the right direction.   I have an accepted offer site unseen (huge feat considering the market preference of CASH & CONVENTIONAL).  Upon viewing  it I discovered it is not a true duplex.  Top & Bottom rented  $2,400/month Total. 

Yes, this property is zoned for for multi. 

Single family 2 level home, separate electric meters, separate HVAC. However, to enter the upstairs unit one must access front door which opens into the downstairs living area. Can this area be walled off to create a foyer entry so that downstairs has it's own door to exit their living area into the foyer in order to access front door leading outside & upstairs unit would have access to foyer by coming down the stairs to the foyer to access front door leading to outside also? Must this be converted to true duplex if so how??? Will FHA 203k allow this, how does one make this happen & what rough price range to expect?

It seems like an uncomplicated process in theory but then again- I know NOTHING about construction/FHA or even investing except what I learn on BiggerPockets.

Jaz your eagerness to get started in Real Estate is great and you can actually BUY a home/condo with that 35k if you look hard & farther out of the main city- I know you can do this b/c you were focused to save 35k- impressive! Most jobs work from home now so if needed you can move to a market to make this happen.  Right now your rent money is paying someone else property = money going down the drain needs to be stopped up ASAP. 

Of course a 35k house/condo will not win a beauty contest but it will put money in your pocket renting out an extra room & even more money with it's equity you can pull out once your credit is improved. Maybe get a LLC & buy the property in that business name so that you can still purchase a FHA home in your own name once you get at least a 620 credit score & then rinse & repeat while you wholesale too.... check out the the podcast Ashley Hamilton the 20k waitress for inspiration.

The plumber who did my work says this is fairly common in Las Vegas as we get small tremor earthquakes- not enough to move buildings like you guys in Cali but enough to move the ground to shift the pipes & cause the leak/break.  I had what they call a hot slab leak  1 plumber quoted around the same amt  as yours little more to go through the concrete- Another plumber did a bypass through the walls.  Insurance does not pay for it.  I hope this helps.

kyle J thank you for your prompt & knowledgeable response- epitome of why this site is so valued. Thanks again

Hello everyone. I thank you for all the past knowledge I have received from days of endless hours of reading & I thank you in  advance:   I canceled my professional property management & self manage as the advice of most successful LL's on here with only a few properties (only 2...for now; I am staying liquid & being patient).

In following advice & researching.  I chose Cozy for rent collection.  However, the site is asking for my SSN and not the EIN of my business.  Is this normal, did those of you using Cozy submit SSN instead of EIN?  Please assist.