All Forum Posts by: Karen Kikalo

I have a 3 bedroom + office (or really small 4th bedroom) house that I have been renting out long term for about 10 years.  It's located in a good neighborhood near a well respected hospital.  I'm thinking it might make sense to turn it into a mid term rental hoping for nurse occupants or people who need a home while theirs is being repaired or remodeled. How do I marry those two client profiles?  Would it be smarter to plan for adults and put queen beds in each bedroom or create kid space like bunkbeds to accommodate families?  Is it better to set up the small bedroom as a bedroom or do people find value in an office space?  What about garage space?  Would you have that available for the occupants or turn it into additional living space to be rented out?   I would appreciate any guidance from experienced mid term rental owners.  Thank you!

Thanks for everyone's suggestions.  Just to answer a few questions - the properties are a duplex and a triplex.  They are new build so I'm planning to buy and hold.  I was looking for a possible 20% down option so that I wouldn't have to come up with as much money as 25% (plus high points which I've never had to deal with before) on two properties at the same time - Definitely not the plan!  Are commercial lenders competitive with Fannie/Freddie lenders?  I'm not sure if it matters but these properties are numbers 6 and 7 (including my personal home loan). 

Thank you for the guidance and if you have a great mortgage broker or lender that would be a good fit for this scenario, I'd love their contact info.  

Thanks again!

Hello fellow BPers,

I have two multi family new builds under contract in Texas and Florida.  I didn't plan on buying two properties at the same time but the building schedules due to supply chain and permit issues (so I'm told) have put both project MANY months behind. Lenders I've spoken to said their minimum down payment for a multi family property is 25% but I'm hoping to find 20% down.  Does that exist?

Thanks so much!

Hi everyone, I'm considering purchasing a new build multi family home from Texas Investor Homes represented by Ron Black.  Does anyone have any experience with this company?  I did a search on the forum but the only post I found was about 8 years old.  I'd love more up to date info.  Thanks for your help!

Hi all Dallas/Arlington investors/realtors.  I'd interested in investing in the Dallas/Arlington area.  While checking out townhomes or condos in the area I've found that there are many available under $125k and that many cashflow really well but I haven't found that to be the case with sfr and mfr.  The condo list prices seem to be reduced on many also. What am I missing?