All Forum Posts by: Jessica Mills

@Tom Makinen haha, I feel you on falling in love with investments. I LOVE the seattle one you listed, but Milwaukee looks great too! Especially for that cost :)

I am incredibly new to investing and still in the research phase.

Scenario 1: Out of state turn key for 100k, after rehab should be about 150k, rent about 1300. Bank will want 25% + closing costs + reserves. How do I get the 25% (please don't say friends and family)

Scenario 2: 300K-360K duplex (hardly any quadplexes in my area of California) funded by VA loan. No money down but 3x the loan amount.

Any tips or suggestions would be greatly appreciated. Like I said I am very new to this and am researching a lot of the QnA's from the forums here and other podcasts. 

I am incredibly new to investing and still in the research phase. 

Scenario 1: Out of state turn key for 100k, after rehab should be about 150k, rent about 1300. Bank will want 25% + closing costs + reserves. How do I get the 25% (please don't say friends and family)

Scenario 2: 300K-360K duplex (hardly any quadplexes in my area of California) funded by VA loan. No money down but 3x the loan amount.

Any tips or suggestions would be greatly appreciated. Like I said I am very new to this and am researching a lot of the QnA's from the forums here and other podcasts. 

@Jerry Padilla How do you "ask the sellers to pay towards your closing costs" I am looking at doing a VA loan or FHA loan and don't think I fully understand how the seller benefits from paying my closing costs. Thank you in advance for your time and guidance.

@Jacob Powell I believe quadplex is better than duplex because with a quadplex you could probably have 2 of the 4 vacant and still not have to spend any of your own money, but depending on the rent of the duplex if one person leaves you will probably have to dip into your own cash funds. 

Just my two cents :)

@Linval T. WOW!!! Thank you SOOO much for all of this incredible information. 

@Dan Zitofsky Good morning, 
When you said "There are some areas with huge cash flow but the properties won't appreciate and others with minimal to no cash flow but will appreciate tremendously." How would I know which area is which? Where would i go to do this research? Thank you in advance for your assistance.

Has anyone invested in "Turn Key Real Estate"? It was explained you purchase a home that is in need of rehab, then the business you bought it from has a team of contractors and a property management team who rehabs the place and finds a renter for you. Do you have any tips, questions I should ask, things to watch out for?

@Julie Dillon Hey! Just a quick question, why did you create an LLC for buying a duplex? Is that a requirement? I thought duplex was still considered a residential home (up to quadplex). I am also in the market for multifamily homes and want to be sure I am doing it right. Thank you in advance for your assistance.

Is this still happening? I new to the community and would love to meet like minded people interested in investing.