All Forum Posts by: Jesse L. Weaver

This is a can't-miss meet up!! See you there

This depends on your end goal! Are you looking to replace your income asap? Are you happy at your job and just looking for a safe way to invest?

Fix and flips are going to be high risk/high reward. Low class, high cash flow properties are going to be high risk/high reward. A boring B class turn-key townhome might not cash flow well but should be the more "hands-off" way to go. Decide where you want to be in a year, 5 years, 20 years, and work backwards from there.

I am not an attorney but yes you can.

You are in a great spot to start investing. Do you like what you do now? Keep doing it! Personally, I would keep my expenses low and buy real estate whenever I can. Target markets that might not cash flow as well but high appreciation areas. Remember, you don't need to leverage as much as possible, scale as fast as you can, and take a lot of risks trying to create as much cash flow as possible. Especially with where you are at. Just be consistent with accumulating positive cash flowing assets that will appreciate.

There's nothing wrong with a 15 year fixed investment loan. You will build equity QUICK. If you are struggling to find properties that cash flow positive you could look into longer options. Talk to other lenders, there are plenty out there! I got my first mortgage through my bank (never talked to anyone else) and later on realized how bad the terms were compared to other local lenders. You mentioned $500k equity in your house- if that house is worth $520k it's a lot lower risk to HELOC some of it vs. if you have $500k equity in a $3m home. Find a leverage ratio you are comfortable with and stick to it.

Our team works with a lot of out of state investors buying investment properties in Southcentral PA. Feel free to reach out if you ever want to chat a little further. Happy Investing!

Exactly what you are doing right now! Read as much as possible, network as much as possible, and save as much as possible. Google Dave Ramsey. A lot of people here can't stand him but he does give great advice for increasing that bank account number. Just understand that he hates leverage and when you get to that point you can decide for yourself how much leverage you are comfortable with.

After you've listened to hours and hours of podcasts and read a bunch of books you will start to figure out what you works for YOU. That's the best part about real estate- there's so many ways to successfully invest and no one knows your exact situation as well as you do. There isn't a right or wrong answer. Decide where you want to be in X number of years and work backwards from there! 

Step 1- verify that your local zoning regulations will allow an ADU

Hello Mia,

Do a quick search for FEMA flood maps. You will be able to search by address of the property on there. The main thing to take seriously is whether or not your lender will require special flood insurance on the property, reach out to them for more detail. No financing=flood insurance not required (although it still might be a good idea to consider it). BEFORE MAKING AN OFFER decide if you will need special flood insurance, contact your insurance agent and ask for a quote, work that extra insurance cost into your numbers and offer price.

 I’ll send you a message and we can set something up! 

My experience has been you pay for the name and huge marketing budget when you buy Andersen, not necessarily the quality. They had faced a lot of issues with sills rotting out, I've fixed hundreds. Not sure if their new windows still have that issue or not. I was never impressed with the Andersen build quality or price for what you are getting. I have not personally worked with Okna but have heard great things. I would not hesitate.

It gets easier. Yes lenders will hit your debt ratio with that mortgage payment but they should be able to use the income from that property if you have a signed lease. Hopefully the income is higher than the mortgage payment, effectively decreasing your DTI.