All Forum Posts by: Kayla Utley

@Michael Baum Michigan 😊

For all those experienced long term rental landlords... where do you print your rental contracts for vacation and long term rentals?? We are about to list our first rental and would appreciate advice on contracts! Thanks!

@Damaso Bautista

Thank you 😊

@Damaso Bautista

In all of my studying and learning about real estate it has been reiterated to leave emotions out of the analysis, which is why I am being extra cautious about not letting emotions make the numbers seem better than they are. But yes, we can afford it, the numbers do work, and I figure it is a win/win if I do this the right way. Plus, it is a good opportunity to learn from experience.😊 Thanks for the help!

@Damaso Bautista

It is a scary time to invest given the pandemic but you hit home with everyone’s goals being different. The numbers do work and this is a special chunk of land to us so we are just trying to make well thought out decisions from all angles to ensure the success of our first investment property. All the advice is greatly appreciated!

@Pam Holbrook

So in that case wouldn’t paying the whole amount with equity be the safer bet? The house doesn’t currently need repairs and we already have fulfilled our first tenant to start cash flowing. We are not really interested in refinancing anytime soon as our interest rate would already be 2.62%

@Bill Goodland thanks for the advice! The property really needs very little maintenance/repairs as of now so we plan on getting tenants ASAP. By going this route we will be combining our 2 mortgages into one. Are there any long term or short term advantages/disadvantages in doing it this way? We figured one advantage is one set of closing costs!

Buying our first buy and hold investment property. We refinanced our house and planned to use the equity for the down payment. We found we have enough equity to purchase the investment property with the equity alone and avoid applying for a second mortgage. Our interest rate is great at 2.62%. If we used all equity to purchase the investment property we would do a 15 year term fixed. Pros and cons of using all equity? Is it smarter to get a second mortgage? We have options and appreciate any advice! 

Anyone have experience with 100 year leases to resolve part of the house across the property line? This is the sellers proposed solution.

@Tom Gimer Thank You!