All Forum Posts by: Kristie Hurst

My spouse and I are debating investment strategies, specifically how to best utilize an amount we have available from our HELOC. He prefers to pay properties in full to avoid paying interest. At that rate it will take decades to grow our portfolio - and we're late to the game as new investors in our late 40's.

My suggestion is to take our available funds and break it down into down payments for 2 or 3 properties, have the tenant pay down the remaining loan, then take out HELOC on those properties for down payment on more properties......rinse and repeat. He disagrees and wants to own our properties outright from the get go.

I know this has been discussed a million times so I apologize for the repeat question, but I’d like well versed and experienced investors to share their experiences to help educate my spouse on this process. 

Thanks!


 

I appreciate everyone’s replies and think i should take my question a little further. We are in a position to invest right now but neither of us feels comfortable enough with our knowledge of finding a good deal to pull the trigger. Besides Turnkey, which we’re not completely opposed to, what other ways of RE investing would you recommend? Basically we want to invest but need some guidance. 

My spouse and I are debating whether to invest in a rental property(s) or pay down mortgage. Maybe do a little of both? I’m all for buying rental property, which my spouse is as well but he’s wondering if the current market lends itself towards paying down our mortgage and waiting for a better market. His business partner is a CPA and recommends tackling the mortgage.  I’d love to hear what seasoned investors would recommend. 

Hi Nicole,

Yes, he is building in Town and Country, Ladue and Creve Coeur! He is currently finishing his home right across the street from us in Town and Country which began late August and will be move in ready in a week or 2. We've watched the entire process and he has an amazing crew, there 7 days a week, very clean and tidy, really impressive. The builder (and our soon to be neighbor) bought the land for 500k, put in 700-800k and said he had an offer at 2.1 M. Our neighborhood is full of rebuilds which sell for anywhere around 1.7 - 2.5 M, so the comps are there. ( we just happen to live in one of the 50 yr old ranches, but with a ton of great updates 😊)  It IS a big risk but seems like it could be a nice profit for a one year investment. 

Would love to discuss this further so  I'll connect privately with you. Thank you so much Nicole!

Kristie

Tim, thank you for your response, I appreciate all the input I can get and will take your suggestions into consideration before moving ahead with this investment. 

Wishing you continued success. 

Kristie

I'll try to summarize as much as I can: we are investors in training and also new neighbors to a builder who is doing tear down/rebuilds in St Louis. This is pretty common in our area as there is very little open land available. We are considering going in on a deal with him to purchase a property at 500k, rebuild cost roughly 700-800k then will retail around 2.1 M. We would front the property purchase, he would front construction cost and we haven't discussed profit split yet. Seems like an opportunity but want to be well informed before making a decision.   Any feedback is much appreciated. 

Thanks Axel, I have the same opinion as far as a straight investment property is concerned.  My husband feels that it will at least serve a purpose while our daughter is at school and if we want to sell it when she is finished then we've lost nothing, assuming we get at least what we paid for it. 

Hi there,

We are looking at an investment property in the town where our daughter will be attending college in the fall. This will be our first deal. It's a single family, 3 bed, 2 bath, 2 car garage, small fenced yard, no basement property that needs zero work. It's on great condition in a very safe area. Sellers are firm at $190,000 which is about 10-15k higher than most of the other properties in the area. Rent is $1500/ month. Our daughter will be living there 3 of her 4 years as well, so it will be serving dual purposes. I'm just not sure if it's a good deal and would appreciate any advice. Thanks so much. 

Kristie

*journey .....phone typing is impossible

thanks @Larry Fried  looking forward to the joirney