All Forum Posts by: Kevin Paynter

Hello all,

My wife and I currently have a townhome as our primary residence. We put 20% down less than a year ago with the intention of living in it for a few years before renting it out and moving into a single family home. 

Now we are interested in getting out of the townhome and into a single family sooner. We won't have a ton of money saved for a down on the single family, so we are considering selling the townhome for the down on the single family. How can we keep the townhome and leverage it to obtain our single family house? 

Hello, 

My wife and I recently purchased our townhouse as our primary residence while she is going to school. With the BP website and podcast, we are now considering house hacking a small multi next year and renting out the townhouse.

We put 20% down for the townhouse and have begun renovating it and making it more modern. When next year comes around and we want to get into a duplex/quad, I was thinking we would almost be brrrr'ing our townhouse, but I don't fully see how to take money out of our townhouse. Is it possible, after reno and appraisal, to take out the equity in the house and leave only 3.5% in the townhouse? Would that mean that a pmi is mandatory?

Any tips and guidance are appreciated. 

Hello all,

Diving into the world of REI and have thought about STR our primary residence. We are in a 2bd/1.5ba, and primarily use the smaller of the two bedrooms as an office. For those of you who currently STR a room in their primary residence, what kind of tips/tricks/thoughts do you have? I'm guessing it would be better to have the larger room available for rent and my wife and I can move into the smaller one.

Interested to hear what the community thinks of renting out a single room of their primary residence. We do have an option of staying with family down the street while we rent out the entire townhouse, which I would also be open to exploring.

I appreciate any input.

-Kevin

Hello all,

Starting off the journey of real estate investing, I'm thinking about starting with a SDIRA. I have a previous 401k that I have not rolled over yet.

After rolling the money over, besides putting it into a REIT, can I instead use the money as a sort of hard money loan for an investment opportunity? What about using the money for a physical property (I think I need a custodian for this type of transaction?)? What about splitting half of the roll over amount between REIT and physical property? Any experienced SDIRA investors that can provide their insight would be greatly appreciated.

Regards

-Kevin

Welcome! New member here also and new to real estate. Everyone here I've spoken with has been very open to helping, and I'm actually going to my first meet up at the end of the month. Maybe there is a group you can get together with in your area? 

Best of luck! 

Justin, 

Thanks for the tips. It's interesting, I was actually looking into options for rolling over my 401k from a previous employer into a sdira for real estate investing purposes. We'll be talking soon I imagine. 

@Dan Guenther

Im putting this in my calendar! Thanks for the invite. 

Kayla, 

My wife and I just closed on our own townhome back in June. We had an idea of getting a duplex and house hacking (as I've learned it's called), but we weren't convinced we could afford one in our market. We've talked about finding a duplex next summer to house hack, which would allow us to rent out our townhome.

We would need the equity out of our townhouse to get the duplex though, which I haven't figured that part out yet. Still learning and researching. 

Hello all, 

My name is Kevin and I am beginning to learn more about real estate investing. Currently my wife and I are located about an hour north of Denver CO, where relocated to in order to be closer to family.

I first heard of real estate investing from a coworker in late 2019, and it sounded like a fantastic way to replace my current income and take control of my time. Unfortunately, at the time, my wife were huge into Dave Ramsey, so when we heard the word "debt", we automatically dismissed investing in real estate as an option for us. I'm not knocking Dave's material, we still employ all of his tips for budgeting and coming together on financial decisions, but I wish I would have started the learning process back then.

Now at 37yr old, working a job that is enjoyable, but a time sink, I am ready to get going on RE. I recently purchased the book 'How to invest in real estate' and have gotten through the chapter of "getting my ducks in a row". That's why I'm posting this, because instead of reading further, I wanted to take some (small) action step and introduce myself to the community.

Im looking forward to contributing where I can, and learning a whole lot from this forum. My goal is to replace our income within 5 years through investing. I'm still not sure which type of investment would be best yet, as I am still in the early stages of learning. Open to any tips from those who have made the first step, and what you would do differently.