All Forum Posts by: Lauren Keen Aumond

Ray, if he did 10% down on any he'd have to pay PMI, which would probably eat into the cash flow.

Andrew, are you considering putting your considerable capital as a down payment on a large multi-family?

Corey, you mentioned your goals a couple of times. What are your goals?

To answer your question, what I would do in your shoes is borrow money from a family member to BRRRR. I'm in the position you were in a few properties ago, just rented out my last primary and looking to purchase an SFR rental. Probably won't go "turn key," but not full gut either until I get my legs under me.

After that, I'll get my parents in on the game, probably by borrowing 100k for a year or so, paying them 8% then cash out refi.

Ken - pretty sure you HAVE to store the tenant's stuff for a period of time. Your attorney will know for sure, of course.

Ali, sounds like this property could give you some tax benefits (lower your overall tax bill, since your other properties are in the black), especially once you factor in depreciation!

Linda Weygant from podcast 244 has either most or all of her properties in HOA's. She just sits on the boards for all of them to ensure they're managed properly. I had written off any properties with an HOA until I heard that podcast. Pretty sure I won't head that direction with my next deal, but got me thinking more.

#1 for the reasons others mention above.

I think of insurance as protecting from catastrophic loss - go with the higher deductible.

Lacee - curious if/how much you're raising the rent?

Replace it. I repaired an 8 year old system in Florida for $750 and the next year ended up having to replace the whole thing. In my other house, the thing only lasted 10.5 years (10 year warranty....).

Awesome podcast. I've listened to 5 or 6 so far and this is my favorite!