All Forum Posts by: Lawrence Morgan

I’m new to this myself so can’t offer too much advice but if I could go back in time a few years and start at a similar point to where you are. I would look into some programs for first time buyers that allow you to put low amounts down. For instance Pierce County and Tacoma have programs that loan you your down payment on a 30 year 0% interest deferred loan. Not sure if king county has something similar. But if you found something like that you buy your first place, house hack it and still continue to save that cash for your next deal. 

Hey Stacy, I’m in the same boat as you. Like almost exactly the same boat especially budget wise. I had a friend that pointed me to Columbia, SC and through recommendations on Zillow I found a couple agents over there and talked to them. I recently got my preapproval and think I will be moving forward with one. 

Another option I considered was to buy a new house around here on a FHA loan and turn my current property into a rental. But good luck, I hope my two cents helped. I'll be keeping an eye on things as I'm curious about this area too

Newer investor in rentals. Wondering at what point should I start a LLC and have my properties transferred to the LLC? Hopefully in the coming weeks. I'll have my primary residence and then a renta property.

Yeah regarding the live in flip. I would live in it, fix it up myself and also contract some of the work. Hack one of the rooms while staying there as well. Thanks for the info on the meet up

So I think I'm ready to make the leap and get my first investment property. I currently own my home and plan on it becoming a rental. I took out a HELOC to get that ready and also to help with any rehab repairs for the new place.

Originally my plan was to purchase a duplex and live on one side while hacking the other but those have been hard to come by. I’ve now begun to think a live in flip may be the better route for me to go. I recently got a preapproval if I were to go that route. 

Since I likely will be living in the property for a year or two. I would prefer to close to the University Place area but I’m open minded. 

With prices the way they are I think it would be difficult for me to come up with 20% for the down payment if I just tried to buy a straight investment property which is why I’m looking at those two options. 

Your thoughts? Any ideas, suggestions or leads would be much appreciated.