All Forum Posts by: Jeff Schneider

Talk to a lender. You want to be careful about your live-in that you don't get too leveraged on it. It will ultimately depend on what it appraises for and the equity you have in it. It may be a route to get started. If you get a no-go from lenders, I would get a roommate, the way rents are you may be able to cover most of your mortgage and that will let you start putting cash away.

Originally posted by @Andrew Kutscher:

@Jeff Schneider I have $60k built up in equity on my first property (which I currently live in).

I was thinking about getting an equity loan to do something similar to what you mentioned.

Do you think this strategy would work using equity instead of cash?

My concern is the cost of the combined loans..

I plan on speaking with a lender to see what numbers they come up with.

PS.

Today’s my first day on bigger pockets. Im new to real estate investing, and am eager to learn as much as I can from this community. I’ve been reading Brandon Turners books, listening to the podcast and now I’m here in the forum!

That being said, I’m very motivated/ excited to jump into the “buy and hold” real estate investing model and I look forward to learning from everyone here and thank you all in advance!

0 Votes

If you are new, grab your broker and have them help you.

1 Vote

Any markets somewhat close to you where you can pick up a single family in the 120K range? If you can qualify for the financing, you can split up the money into two 20% down payments, get a 3% 30 year loan and start cash flowing on two single family rentals.

2 Votes

Hi AL, PM me, I would be glad to help. Many Realtors won't be familiar with the 1031 or the time frames, I've done dozens for myself and other investors.

0 Votes

Phoenix, Arizona

Just make sure you know how to do your own due diligence. I've seen people pushing ARV's to make the deals look like deals. You make most of your money on the buy side.

1 Vote

@Russell Brazil , I am a HomeSmart agent.

0 Votes

A lot of being LL friendly is how fast you can get them out for non-payment of rent. Here is a link to the LLTA -

https://housing.az.gov/sites/default/files/documents/files/Landlord-Tenant-Act-ADOH-Publication-July-2018.pdf

1 Vote

Here is a link to more spending he has planned and additional things like a national rent cap.

https://berniesanders.com/issues/housing-all/

0 Votes

Let's not get into politics but since we're all like minded-ish investors, read this and let us know what do you think of forcing market changes, area changes, affordability, excessive taxing etc?

https://theweek.com/speedreads/865930/bernie-sanders-proposes-25-percent-house-flipping-tax-new-housing-plan

7 Votes

All Forum Posts by: Jeff Schneider

Jeff Schneider has started 2 posts and replied 145 times.

Post: Arizona Landlord/Tenant Laws

Post: What would you do with 60k ?

Post: Realtor, How Do You Analyse A place is “Good fire Renting”?

Post: What would you do with 60k ?

Post: Need to 1031 in Phoenix Metro, wholesaler selling under 300k?

Post: Wholesalers in Phoenix and Greater Phoenix?

Post: Any HomeSmart Agents On BP?

Post: Arizona Landlord/Tenant Laws

Post: 25% flipping tax??? Not cool.

Post: 25% flipping tax??? Not cool.