All Forum Posts by: Jeremy Kloter

If I were you, I'd buy. Get out of the rental game in this instance if you know that is a place you'd like to live. Prices and rates will fluctuate but building equity is typically a better choice than renting. Once you do that you could rent out the other rooms or look to invest into a second property. As you build equity you can always refinance or tap into it for cash to put down on a new place.

Epoxy counter tops are our lower budget upgrade before granite.

I'd pay off any high interest debt first, if you don't have any then continue to save. If $25k is most of your nest egg you need to save more, if $25k is what you want to invest, you might be able to partner with someone but typically 50k+ is what we have seen in the past where you might get to get your feet wet on a deal. This could be lending your capital for a 6-12 month period as it won't likely be enough for a down payment but it could if you could qualify for a property to live into with 3.5-5% down. A few variables here depends on your goals, etc. just my 2 cents.

For an addition you need to check the zoning rules for the property and what might be allowed, so a quick call to the city usually makes sense here to the local building department.

You're likely going to want an attorneys input here, or search out a educator in the space that focus's on creative financing. Pete Fortunato or Bill Ham will be two people to look into. You should get a copy of some of their materials or books. Take your time to get into the game with this, you don't want to mess up on the first one, focus on the education and getting the right network in place along with the proper guidance on paperwork for the markets you are in.

The responses here could be pretty detailed, there is a lot to cover. In a nutshell I'd buy your first deal on market, buying from wholesalers is a completely different ball game especially if you are not local. If you want PM me and I can do a 15min call and touch on some details with you.

This is a cost it sounds like, that owners may have to pitch in on and eat as part of their expense if they want rentals to continue working in there. There is not likely much that can be done to "fight back" unless you organize the investors/renters in there currently.

I'd locate a local REIA or investment meetup and contact the organizer for a good agent in their market, probably the quickest way to find someone that knows investments and has a license!

You should be able to find a lender for an investment property but you might have to put down 30-50% however PM me and I have a contact for you to explore financing with.

This is challenging, what is the market rent for a unit like yours without being furnished? I'd say maybe a few hundred bucks at most.