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All Forum Posts by: Kyle Hendricks

Kyle Hendricks has started 8 posts and replied 42 times.

Post: ADVICE NEEDED for Financing More Deals

Kyle Hendricks
Posted
  • Lender
  • Posts 45
  • Votes 23

I would look into seller finance or private investors that will lend based off your past success and you as an investor rather than your DTI. Once you take the bank out of the equation the power is really all in your negotiation.

Post: House hacking newbie

Kyle Hendricks
Posted
  • Lender
  • Posts 45
  • Votes 23

It sounds like targeting off market properties could be your best bet here. If payment is a big factor for you, then asking the seller to pay for either a permanent buydown or temporary buydown can make a big difference as well. If multis are hard to come by, then finding unique properties that are zoned SFR but have multiple living spaces / basements / ADU's can also be a good route.

Post: Any amazing FIRE / RE focused financial advisors?

Kyle Hendricks
Posted
  • Lender
  • Posts 45
  • Votes 23
Quote from @Cynthia Meyer:

@Kyle Hendricks I encourage you to look for a Fee-Only CERTIFIED FINANCIAL PLANNER® who works with real estate investors and is FIRE focused. Try NAPFA (@Bill Hampton is an awesome member!) and the XY Planning Network. Our firm Real Life Planning works exclusively with real estate investors. You can also look for advisors who have completed the Real Estate Financial Coach Course, a continuing education course for CFPs designed to enhance their real estate financial planning skills. @Daniel Huffman also works with a lot of FIRE folks.


 Thanks so much Cynthia!

Post: Any amazing FIRE / RE focused financial advisors?

Kyle Hendricks
Posted
  • Lender
  • Posts 45
  • Votes 23
Quote from @Bill Hampton:

@Kyle Hendricks

You came to the right place. Bigger Pockets is a great place to find a real estate focused financial planner.

A good financial planner can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation, 1031 exchanges, financial planning and tax planning.

I recommend finding a financial planner specializing in real estate taxation, business taxation, financial planning, and tax planning.

Consider working with your financial planner remotely to expand your options.

I would also recommend looking for a financial planner willing to work with you throughout the year. You want a financial planner who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.

Good luck.


 Thanks Bill, that is exactly what I am looking for. Thanks!

Post: I need help getting started.

Kyle Hendricks
Posted
  • Lender
  • Posts 45
  • Votes 23

Hey Matthew,

I am a lender and have done a MTR househack myself. These are my absolute favorite deals. Happy to chat and answer any questions you have. 

Post: Any amazing FIRE / RE focused financial advisors?

Kyle Hendricks
Posted
  • Lender
  • Posts 45
  • Votes 23

My wife and I have 2 units (1 LTR and 1 MTR) and are saving and looking to pickup our next deal this year. 

We both have decent jobs, no debt (besides mortgage) and are pretty analytical and good savers. I got my degree in finance and am a lender so I have always felt like I could just do it myself.

That being said, we feel we are getting to the point where we should probably look into hiring a financial advisor / planner. I understand the value of someone who is an expert in their field and know that someone that does this for a living could do it much better than myself.

I would really like someone who focuses on FIRE and real estate investing since that is the goal we are working toward. To us it is more about the planning aspect and setting up systems to save for properties and manage finances, rather than someone who just wants to put our money in the market.

Does anyone have someone they would recommend or advice on taking this next step? Thank you!

Post: Looking for investor friendly CPA's in HI or WA

Kyle Hendricks
Posted
  • Lender
  • Posts 45
  • Votes 23

Anyone have any good CPA referrals that specialize working with RE investors?

We spend the year between Maui and WA so someone local or experience working in both states would be sweet but not a deal breaker.

Thanks in advance!

Post: Leveling Up - Accountability

Kyle Hendricks
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  • Lender
  • Posts 45
  • Votes 23

I wanted to reach out to see if there are other people out there looking for something similar.

I have a couple of units currently. A Mid term rental unit and a long term unit.

I am in the industry and understand real estate pretty well. But feel a little complacent.

I live in a very expensive market (Maui). I am slowly stacking capital currently and wondering the best way to scale.

I really want to find people in my same stage of having a few units but wanting to start growing quicker and taking investing / scaling more seriously.

I think having a small community of people in the same situation to keep each-other accountable and goal set together would be extremely beneficial. Maybe a facebook group, recurring zoom meeting, etc. (whether that be 2 people or 10)

I have looked into coaching programs but it all seems pretty expensive and more focused on education.

I would love to connect with anyone out there in a similar position.

Post: Looking for DSCR lender that accepts section 8 tenant.

Kyle Hendricks
Posted
  • Lender
  • Posts 45
  • Votes 23

@David Tran

Happy to take a look! 2533550247

Post: Investment Loans (DSCR?)

Kyle Hendricks
Posted
  • Lender
  • Posts 45
  • Votes 23

@Aamna Kidwai

Lender here. I think this will get more common over time and products will mold to fit mtrs.

I have done several dscrs for mid terms, they are doable.