All Forum Posts by: Kate Moreland

I need someone as well; thanks for the recommendations @Natalie Kolodij!

@Filipe Pereira @Bettina F. @Irina Belkofer

Okay good, thank you all!  That's what seemed sensible but then I thought maybe I was missing something and didn't want accounting trouble down the road.  I'll definitely check into laws regarding deposits and escrow as I had not heard about that before, and will look into a better bookkeeping system as well. 

Appreciate the advice y'all! 

Evening all :)  

We just got our second duplex under contract this morning, so I'm starting the to-do list of what needs to happen before we move in (house hacking again).  I know a lot of people recommend having a separate bank account for each property, but what's the recommendation for multifamily properties?  Should I have a bank account for each of the three units that will be rented, or one for each property?  We'll own two duplexes, and live in one of them for the next year.  

I feel like all I do is deposit rent and once in a while pull some money out for some repair or other, but that's it.  My current rental house account hardly gets touched otherwise.  Thoughts?

@Bart H. @Rachel N. @Christopher Marie 

Thank you!  That's really helpful. 

Hey all, Can anyone recommend a good online program for passing the Texas real estate license test? I really want to get my license but my two kids (2 and 8mo) make getting out to evening classes challenging. I'm good at self study and have done licensing exams like this before; I used to work in finance and insurance so I'm not totally new to the whole licensing exam idea. Any good programs out there or words of advice? I'm in TX if it helps. Thanks!

@silvia Hansen It's a fast moving market and the weird thing about FW is that the neighborhoods are very hit or miss. There's A class houses on one side of a road and B- on the other, for example. However, look for the good school districts; Aledo ISD, Grapevine/colleyville, Denton is good. Anything near TCU or Magnolia is often solid.  North of town near the main highways is pretty good too. There are deals all over depending on what kind of place you want but you have to check the location really well, and I'm not sure how one does that when not local.   Good luck!  :)

ETA - sorry my tag isn't working...the app is glitchy on my phone. 

Hey All! I'm Kate and my husband and I have been lurking on here and listening to the podcast for a couple years now, but never got around to participating much. Actually, to be totally honest, it took him this long to get me hooked on BP but he finally did so here I am. We bought our first property, a duplex, two years ago and have been house hacking and renovating slowly since. We're hoping to get our next one as soon as financing's approved (which will happen if the current house ever stops breaking...). We have two kids and are trying to get one or two more house hack rentals under our belts before more kids come along and slow the process down ;). Looking forward to learning more from y'all on here!

Fort Worth newbie here too! Welcome :). My husband and I are currently house hacking a fixer upper duplex and getting ready to move on to our next deal. Good luck with yours! There's some nice multi deals on the market now.

@JoshFulenwider Interesting idea!  And yes, it is listed as commercial vacant land; the tax appraisals show all value for the land and zero for the structure at all. I'll have to ask our lender what he thinks... We have a good one but I get nervous that he'll be irritated with the random questions I send him whenever I see an interesting deal. No other way to learn though!  

@Stephanie Irto That's what we were thinking; I'm glad it makes sense and there isn't some big problem I'm missing (at this very early point, anyway!). 

Hi All! I'm very new here; my husband and I (and two little munchkins) are house hacking our first deal, a duplex. We're almost done with the refi part of the BRRR plan, and hoping to move to our next property this year.

We found a property that's interesting, but I don't know what our financing options would be, or what the best way to attack a place like this is within the confines of what we can do.  I'd welcome any wisdom or advice on options, just in case we have any shot at this.

The property for sale is in a great area, appreciating like crazy.  It's a 4-plex with a house next door.  All for sale as a single piece.  The 4-plex is zoned residential multi-family, per usual.  The house is zoned commercial vacant land.  

We don't have tons of cash on hand so we'd need this to be a house hack too. What do you experienced people think would be the best way to work something like this, while staying ideally within the confines of an FHA (preferably) or a 5% down conventional loan? I know it's not possible to do FHA for more than 4 residential units, but.....creativity? Ideas? Am I crazy? Thanks!