All Forum Posts by: Jennifer Dean

Hi @Justin Koopmans! I think that's great that you are graduating and starting on the path to real estate investing! I have done the same thing having bought several multi-unit properties that I have lived in. Being an agent in the Orem/Provo area, I have some great connections and know of some great loans that can get you into a property with just $500 and no PMI insurance.

Message me and let me know if you would like some help finding a great income-producing property and more information about some of the loan programs I have come across in my own investing.

Hi @June B.! I did the exact same thing when I was single and rented out the extra rooms to roomates. Its worked out great for me and I still have the property and have had no problems! I have a great loan that I just heard about too with putting just $500 down and there is no PMI insurance. I am an agent and have done quite a bit of research to see different banks' and lenders' loan programs to be able to pass on that info. There are some other loans I've come across that could help you in your investing career too! Message me if you want some more details or some help finding a property!

Welcome to BP! I am an agent here and am always scouring the MLS for good deals, but find that I like some of the off market deals the best. I am also doing some of the owner occupied route of investing. We bought a duplex and fixed up our side that we are living in. We are planning on fixing up the other side this summer. After its fixed up we will be either re-financing or taking out a HELOC for our equity to put towards buying another property. I think house hacking is super smart as it ends up being little money down compared to putting 20% or more down for a property.

Hi Scott!  Welcome to BP!  Its sounds like you have had some good experience in the industry.  What do you mean by "owner occupied commercial real estate"?  Would that be financing 5 units or bigger with owner financing?  

Welcome! I am part of the Utah REIA and Utah Valley REIA and both are great! I've heard great things about the SL REIA too, but have yet to join.

Jay Hinrichs Just came across this thread and couldn't help but comment. This is an amazing idea and I love what you are doing! Although I wish my husband and I could have qualified ( we live in Utah ), you have inspired me to hopefully be in a position someday to do the same and really give back! Life is too short to not care about and help people! I can't wait to see the progress of the project!

I would love to get some feedback on a deal I am trying to put together.  The deal is for 6 units with a purchase price of $700,000 - rent totals $6095.  

The NOI is $4735/month and $56745/year.

The cap rate is about 8.12%. Usually I look for a little bit higher cap rate, but due to the fact that he is open to terms, I am willing to compromise too.  

I am trying to put a deal together being creative and using seller financing and using a lien on a property I already own instead of a higher down payment.  Basically I would allow a lien to be placed on a duplex I own- with about 90-100K in equity, for his security instead of a high down payment and also be putting in my real estate agent commission (about $20K) towards a down.  

We would do a short term of 3-5 years, so that the property could be shown as income producing on my taxes in order to get a loan on it.  Due to the debt-to-income restrictions, I don't believe I would be able to qualify for a loan on a property like this in this year...  

What I'm wondering is if it would be worth it to place a lien on my property in lieu of a high down payment? What would be the draw backs?  I wanted to see if anyone had feedback on if this deal is worth pursuing?  Are there ways to combat the debt-to-income ratios for loans as I seek to acquire more properties?

Hello!  My name is Jennifer Dean. I'm new to bigger pockets!  I'm an investor from Utah and I'm looking to network and make some connections. I am starting to get into wholesaling, lease options and seller financing. I got my real estate license in May, but felt like I want to do more than just sell real estate. I want to invest. I am starting to get into wholesaling, lease options and seller financing.  I also am looking for some buy and holds. I bought my first rental in May of 2013 and rented it out to roommates before I got married.  My husband and I just closed on a duplex last month, so we will add 2 more doors to make it three. I love the industry and would love to meet you!