All Forum Posts by: Gabriella Nataldie

Hi Everyone,

I hope you’re well. I need some advice on my real estate investment plans. My loan application was denied because my salary from my full-time job is too low. I took on a part-time job to help, but the lender won’t consider that income. 

I have $15,000 saved and a relative willing to lend me $2,000. I’m interested in house hacking as a potential solution.

Should I:

1. Keep saving and wait?
2. Look into DSCR (Debt Service Coverage Ratio) loans that might have more flexible income requirements?
3. Explore other financing options or creative solutions?

I’m determined to make this work and would appreciate any advice.

Thanks for your help!

Thanks for reaching out! I'm definitely interested in flipping houses myself down the line. I'm currently working on learning and gaining experience in real estate, aiming to make that happen sooner rather than later. Though It really depends on how soon I learn.

Thanks for the suggestions! Unfortunately, this is a small area, and anything local is at least 30 minutes away with no public transportation, so it's a bit challenging. However, I'm open to finding ways to make it work.

I haven't been to local meetups yet, but it's something I'm considering. Stopping by job sites to talk to the boss is a great idea—I hadn't thought of that. I appreciate the advice on starting with sweat equity or gopher skills and then leveling up to a small JV partner. I'll definitely keep that in mind thank you.

Looking to Gain House Flipping Experience

I'm eager to jump into house flipping and willing to work for free or minimum wage to learn the ropes. Hard worker with lots of enthusiasm, ready to soak up knowledge.

Seeking opportunities in the Shoals area—Tuscumbia, Russellville, Florence, Muscle Shoals, Sheffield. Also open to Huntsville and Decatur occasionally.

Need an extra hand? Let's chat! Ready to contribute, learn, and grow together.

Thanks!

It is in Florence. Right now it is off the market.  

I'm looking for a partner to invest $10K in a quadruplex in Alabama. The property is fully tenant-occupied, with each of the 4 units renting for $600 per month, totaling $2,400 monthly rent (pre-mortgage payments). The building has had a lot of work done recently and is in great condition.

Here's the deal: you'll get 100% of the profits until you double your investment. We'll split any repair costs that come up.

If you're interested in a high-return, low-risk investment, let's connect!

Thanks for sharing those thoughtful ideas! Renting out a room, pet sitting, freelance gigs, and exploring opportunities in real estate wholesaling are all good suggestions for generating additional income. It's great to see a range of options that can cater to different interests and skills. I am going to start working towards some of these today thankyou!

Hey everyone,

I'm facing a bit of a challenge and could really use some advice. I'm determined to increase my income so I can invest in multifamily real estate, but I'm hitting roadblocks due to various limitations.

First off, I'm the primary caregiver for my father, and his ongoing medical expenses are a significant financial responsibility. On top of that, I don't have a car, which limits my work options to roles that allow me to finish by 4 pm. To make matters more challenging, my area has a low wage standard, making it tough to find opportunities that pay more than $10 an hour. Currently, I'm only offered 27 hours of work per week at an average/below-average pay rate, which isn't nearly enough to save for a down payment or qualify for a loan.

I've tried selling belongings to generate extra income, but it's not sustainable in the long run. I'm wondering if anyone has any ideas for passive income or other income-generating opportunities that could work in my situation. I'm open to any suggestions or advice you might have.

Thanks in advance for your help!

Hey everyone,

I could really use some guidance on a property investment decision I'm facing. Recently, I came across a 4-plex in Florence AL listed at $310k. The current rents are $600 per unit, and the seller mentioned significant renovations over the past two years. Unfortunately, I haven't gotten any pictures yet.

Here's where I'm at financially: I had $10k in savings, but after some unexpected hospital bills for my dad, it's looking more like $8k now. However, I do have a steady income that allows me to save about $1.5k per month for investments.

I'm torn because this property seems like a golden opportunity, especially considering it's the only offer in the area, and the potential profit looks promising. But with my diminished savings, I'm not sure if it's wise to jump in now or wait until I've saved up more.

What would you do in my situation? Any insights or advice would be incredibly helpful.

Thanks for your help!

Quote from @Mark Sanderson:

Sorry to hear about your dad and I'm glad that you are there for him!

Stay motivated as you build your financial foundation and continue to learn.

I tell clients to look at other people's successes so that they can see that flips are happening in their area.

Here's a listing for a property that was sold for $155,000 back on December 18, 2023 and is now listed for $245,000

https://www.redfin.com/AL/Huntsville/3916-Binderton-Pl-SW-35...

Here is another one that sold for $210,000 on March 13, 2024 and is back on the market for $284,000

In both of these listings you can go to the Sales and Tax History and see pictures from the previous listing. Compare them with the current listing pictures and you can see what was done in order to list at the higher price. 

Keep learning and stay motivated!

Thanks for your kind words and for sharing these examples. It's truly motivating to witness flips happening in the area and how properties can appreciate through strategic renovations. I'll delve deeper into these listings and examine the before-and-after pictures to understand the process better. Your encouragement is appreciated, especially as I support my dad and work on my financial stability. Your insights and examples are incredibly inspiring, showcasing the possibilities with strategic renovations and flips in the area.