All Forum Posts by: Kaitlyn Beard

Hey Addison! 

I am currently in Abilene! I have multiple SFH properties I rent here and am soon investing in another. I'll shoot you a message and we can discuss some more!

Kaitlyn Beard

My best advice is constantly be looking online. I have found about 5-10 distressed properties that I'd love to get my hands on, but can't for the next couple of months. I see trends in either investors that would flip it, so the house goes under contract in less than 24-48 hours. Or, no one in this town wishes to do the work themselves so it lasts on the market for more than 60 days! I am currently trying to learn more about finding distressed or foreclosed properties that are not listed on the MLS. Let me know what you find out, good luck!

Kaitlyn Beard

My advice is to try to tackle both? Real estate investing isn't necessarily a "job." I currently have a full time job, go to school full time online, volunteer at a ranch, work out 4-6 times a week, AND manage two properties of my own. I would say time management is key but it all depends on how much time you want to yourself! If you continue to do personal training, you'll make more money to get your REI up and running. Then, let your real estate take off from there. Are you wanting to invest in wholesaling/flips (more job like) or long term buy and hold for tenants? Like I said, it all depends on your goals and schedule. Good luck!

Kaitlyn Beard

Hey!

Glad you are wanting to get into REI. You are one step closer to success by joining us on BiggerPockets! I am originally from CA and moved to Texas after some time in my Active Duty service. I love it and I have to admit that Real Estate is booming in Texas. Have you ever visited Houston? There are many big cities in Texas. I would say Austin is the most like Los Angeles. They're both huge cities that REI is a good option for, though! Good luck!

Kaitlyn Beard

Hey all,

I know some lenders differ but I wanted to see what you guys have to say. I have two SFH properties now. I house hacked my way into the second and am gaining more tenants in December. I have enough for a 5% down on a conventional loan to be my primary. I plan on moving into that home and house hacking again. However, to secure the loan, I know I'll need to provide the leases for my other two properties. I will be receiving way above enough cash flow for DTI, but will I need to of had proven the income on the second home for more than x amount of time? For example, some lenders will say I need to be renting that house for 12 months and they need to see those bank statements to give me an additional loan (conventional) for my next primary residence. Or, do you think I'll be okay with finding a lender and providing him a 12 month lease for both the homes? The first home will not be an issue because there have been renters for 3 years. The second home has renters moving in starting December and I plan on buying in March. What do you think?

I have house hacked for 3 years now, hopping from house to house after the 12 months period is up. It is a smart way to go and I am happy you were able to help them!

 I can be of as much as help as I can! I have invested in long term rentals for 3 years now and am getting to a point where I am also looking for potential partnerships to continue my portfolio growth. Feel free to message me

 Where are you located? And are you wanting to do a short term or long term buy and hold? It can be hard to find a mentor, but honestly, this is the place. I visualize this entire forum page as a mentorship group. So, ask away! 

 Hey! Well, first off congrats! What exactly are you nervous about? My best advice is to try to break down your feelings and if see if you can fix any of that. For example, are you stressed no one will rent? Well, do your comps and see what you have to do to make it happen! Don't work yourself with too much anxiety. Remind yourself of your "why" and be excited!

Are you wanting to have the duplex be a short term rental like an Air BnB or long term with tenants? I like the coin idea if it's for an STR. The basement is a great idea... do it!

I think this would be a beneficial discussion to start... Feel free to share any tips when it comes to finding partnerships and what should be included in your proposal!