All Forum Posts by: Kenny Smith

@Donnie Wierzbicki

Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?

1. Subscribe to the BiggerPockets Money and Rookie Podcasts

2. Attend the FREE WEBINARS

3. Attend a Meetup in your area/virtual meet ups

4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

5. Peruse the forums! Ask questions! Answer questions! If you are consistent with learning real estate over the next 4-6 months, you’ll be ready to purchase your first (or next) property in NO TIME!

Good Luck,

Kenny

@Jake Warren

Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?

1. Subscribe to the BiggerPockets Money and Rookie Podcasts

2. Attend the FREE WEBINARS

3. Attend a Meetup in your area/virtual meet ups

4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

5. Peruse the forums! Ask questions! Answer questions! If you are consistent with learning real estate over the next 4-6 months, you’ll be ready to purchase your first (or next) property in NO TIME!

Good Luck,

Kenny

@Eugene Pinchuk

Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?

1. Subscribe to the BiggerPockets Money and Rookie Podcasts

2. Attend the FREE WEBINARS

3. Attend a Meetup in your area/virtual meet ups

4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

5. Peruse the forums! Ask questions! Answer questions! If you are consistent with learning real estate over the next 4-6 months, you’ll be ready to purchase your first (or next) property in NO TIME!

Good Luck,

Kenny

@Michael Clark

I'd have a conversation with your loan officer on that, and how strict they are going to be.  It sounds to me like it shouldn't be an huge issue, but make sure you check, because not following their requirements is considered mortgage fraud which is a federal offense.

Good luck!

@David Lund

Do you have any other properties in your portfolio? If so, take a look at the equity you have in it, and consider taking out a HELOC if the numbers make sense.

I don't know you're area, but you could also talk to your lender about a DSCR loan which is debt service coverage ratio. Essentially they look at what the expected net operating income and if it will be enough to cover your mortgage. You'd be house hacking, so not sure if this would work for you or not.

If neither work, may just need to wait until you have 2 years of consistent income to show your lender.

Good luck.

@Leo R.

I don't have experience long distance property management..but I'd recommend reading David Greene's Long Distance Real Estate Investing book!  I'm sure there are plenty of nuggets in that book to help.

@Jay Soriano

I am not in that area, but I would highly recommend speaking with an insurance broker!  They can shop around and find you the best rates and coverages from all the major and smaller insurance companies.  Saving you that step, and you could get cheaper and better coverage.  The insurance company pays them their commission typically, not you.

Hey @Adrian Martinez

Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?

1. Subscribe to the BiggerPockets Money and Rookie Podcasts

2. Attend the FREE WEBINARS

3. Attend a Meetup in your area/virtual meet ups

4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

5. Peruse the forums! Ask questions! Answer questions! If you are consistent with learning real estate over the next 4-6 months, you’ll be ready to purchase your first (or next) property in NO TIME!

Good Luck,

Kenny

@Jaime Mitchell

I certainly am not a lawyer, but my opinion is that there isn't a whole lot you can do.  If it states in the lease she has until the end of December to vacate the property, then she has rights to the property until then.

If you are hoping to get her out at a certain date, you could always draw up a lease addendum and have her sign it.  I'd consult a real estate attorney to ask if this would even be possible.  Again, I don't know what is in the current lease, but that is the route I would take personally.

Hey @Travis Paulin

Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?

1. Subscribe to the BiggerPockets Money and Rookie Podcasts

2. Attend the FREE WEBINARS

3. Attend a Meetup in your area/virtual meet ups

4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

5. Peruse the forums! Ask questions! Answer questions! If you are consistent with learning real estate over the next 4-6 months, you’ll be ready to purchase your first (or next) property in NO TIME!

Good Luck,

Kenny