All Forum Posts by: Lakshay G.

thank you all. 

Easy as that, or to grow your portfolio at a lot quicker pace, you can purchase and rehab with cash, get a HML (since most HML's don't have seasoning requirements) for a cash out refi and use those funds for the down payment on another property. Then when you have the seasoning put them both in a conforming loan.

@George Taylor May I ask you to dig in on these lines please! I'm new so I didn't quite understand "get a HML for a cash out Refi and use those funds for the down payment on another property." -especially this one.

Hello,

I live in Maryland (Near Baltimore). I may have been misunderstood but I was told at one of the REIA meetings by a person who works for a Self directed IRA company that when money is borrowed from a hard money lender to purchase and repair the house, it'll be hard or almost impossible for me to get it refinanced for a conventional loan (for buy and hold) for rental purposes. If this is true, I won't be able to do @Brandon Turner's famour BRRRR strategy.

Please help. Thank you. 

Oh Wow! Brandon wrote on my post! I feel like I got an autograph from a celebrity. 

Thanks Brandon!

Thank you all for the input. I'm reading The Book On Rental Property Investment and it's such a great book. Big thanks to Brandon Turner. I know I'm going to do my first deal before Summer 2017. I also listened to Podcast 200 and it was a really good one for beginners.

Russell Brazil Thank you.

Hello there,

I am working on my New Year Resolution, which is purchasing a buy and hold property :) I have a general question. So my household income (my spouse and mine) is good enough (above $75K) to get money from hard money lender but my sole income is less than $30K/year which derives my question whether I can get financing easily considering my household income and if I have enough cash to put up front for a deal or does my spouse's name have to be on the deal as well?

I hope I did a good job explaining my question. In simple language, when seeking approval for a loan, will only my income and credit score (which is excellent by the way) be verified or my household income count? I am not looking for conventional loans.

Thanks in advance folks.

I actually had the same question in mind but didn't speak up. 

Hello @Valerie Hiscoe thank you for the great comment. I am a full time business owner and I initially wanted to buy and hold but I noticed how much flipper make (significantly more than buy and hold investors) but I think it's their full time job (for the most part) so I wanted to FLIP. But, considering how my business requires my attentions even on weekends, no fixed timings, I feel much better starting out as buy and hold investor and take it from there. So I'll start reading the book on Rental Property Investing first and understand it. thanks again.

A big thanks to other people as well.

thank you guys. 

Hello,

May I get some suggestions regarding which book I should thoroughly pick up and read and understand first? I plan to read both of them as I have already purchased them both but unsure which one to read first.

First - The book on Rental Property Investing

Second - The book on Flipping Houses.

Now I know I can't expect to compare apples to oranges but does one book have more "general" or "common" or "basic" learning material than other?

Any answer is appreciated.