All Forum Posts by: Jake S.

Hey Michael!

Sorry to hear about your mother :/

With your first question, could you buy out your sister and then get a mortgage against the property to pull out the equity?

If you did that, would the house still cash flow? What's it's value and what would it rent for in the area?

Hey Molly! It's been a bit since Ive done a SFH, but when I refinanced it required a 6 month seasoning period and sometimes 12

@Adam Knoblich I hear you! I am tired of the winters here and was looking at the Raleigh market to relocate 

Yeah the only way I would house hack a SFH is if I could make the basement basically a separate unit with a separate entrance. Otherwise, for me personally a duplex is the only other option. Mainly due to quality of living that I've become used to lol

If you decide to go out of state, were you thinking Midwest?

In state though, have you networked with a solid realtor and/or Property manager to see if they can set you up with alerts and off market deals?

Happy for you and your wife!

Hey Aaron! Glad to have you here and good to see you are taking action!

To answer your question, contact a local realtor who works with investors and also contact a solid property management company about vacancy rates.

@Adam Knoblich Looking to stay in state? What market are you considering?

My wife and I were thinking of moving to NC haha

I think doing the bottom half a Gray color and the siding white, with shutters that match the door (maybe a Navy blue) would look great.

Trim the hedges up, do something around the sidewalk and maybe a flower bed on the left side and this property will look 100x better

You should be able to find it through county records, however, you could sign up for Propstream and they tend to have a lot of info about properties

But for free, county records should not if property taxes are delinquent

There's definitely room to find some opportunities. Part of our group works closely with a new construction turnkey company in the area and have had great success

@George Hariri  Look at what the properties rent for in the given area and also look at what the properties are priced at.

Good rule of thumb is you want it to rent each month for around 1% of the purchase price.

So if a property costs $200k ideally you want it to rent for around $2k/month

You usually will be still okay at around .7%-1%

Hey Adam! Glad to have you and your wife on BP! Sounds like you've been pretty busy with learning!!

What type of RE investing are you looking to do?