All Forum Posts by: Kayla Caruso

@Conner Olsen I mean this sincerely, and not fasciitis. Thank you for the dose of reality with funds rate comparison and what's likely by the end of the year. 

I'm not too knowledgeable regarding the 70s and 80s. Absolutely, something to learn about.

@Andrew Garcia

I think finding someone interested in doing so, whom I could trust. We'd be sharing spaces (laundry, kitchen, living), so that's a factor. Plus I have 2 cats; they're not a deal-breaker, but definitely a priority. 

I think I may need to do some shopping around for investor-friendly agents and different lenders. 

@Andrew Garcia

I don't know if I can wait too long, because I'm currently on a modified lease the automatically reups until 5/31/23 on 9/1/22. 

I'm open to any help you'd like to extend. I've been looking for rents, but the neighborhood where I've found a property is almost all sfr's owner-occupied. Therefore I can only find rental prices for adjacent neighborhoods. Adjacent neighborhoods for sfr's range from 1500-3500. Also, in this property, I'm not sure if I'd be able to rent a room to help offset the rent.

I did find a fsbo, in the same neighborhood, with more updates, but similar layout and sq. footage. Currently asking for 235k on that one.

This is where I'm currently at with my knowledge and what I've been able to find. 

I'm very much looking to move into a SFR and rent out a room or space to help supplement the monthly costs.

Ideally, I would be live-in flip in a neighborhood on the west side of Cleveland. Currently preapproved for 225k with FHA. Interest rates, down payment, and finances in general are causing a bit of analysis-paralysis.

Should I wait for interest rates to drop? I'm planning on living here for another year, minimum, so see a long-term hold a solid possibility to live, flip, and then rent.

I've read several books, but get confused with all the different values and formulas. What numbers have people used for similar situations as my own? I imagine one of the key things to compute would be to get an average idea of rent in the same area, to make sure it would cover the cost of the house? 

Any help is much appreciated!

Kayla

My name is Kayla Caruso. I'm voraciously reading all things real estate and after years of education have decided to take the leap into real estate investing. As someone who has only ever rented, I'm currently looking into the house-hacking path. Looking to meet other local area investors.

Kayla