All Forum Posts by: Lindsey Konchar

@Jay Hurst as of now, we're open to moving to a new place when we come back. But that's a really great point! I didn't even consider the fact that we couldn't move back into our house! Thank you for saying that!!

Hello BP!

I'm a new investor (just closed on our first rental - a long-term duplex)! We want to keep trucking down our investing road, but have a few barriers. The first being, we retired my husband out of corporate hell in September (yay!), but going all in on my self-employed business as a financial therapist means two things: 1. We don't have a ton of extra income to be saving for our next investment property and 2. We don't qualify for a conventional loan.

We bought our first rental with a DSCR loan with 25% down and interest rate of 7.5%. (Paid $199,500 and monthly rent is $2,150!)

Additionally, as my business is fully remote, we are moving to Costa Rica for one year - all of 2026! Which means we are going to rent our primary residence. For context, our house is on a 15-year conventional loan with a 2.25% interest rate. We have about $170,000 of equity in the house (but because of our employment arrangement we don't have access to a HELOC. And honestly, I don't know if I would want to be super leveraged anyway).

According to the lenders I've spoken with, we can't do a cash out refi either. I think, as we plan to rent it for all of 2026, we could refi into a DSCR loan? However, we would be losing our 2.25% interest rate and be moving to a 7.5% rate. BUT that $170,000 would give us the potential to buy a few more long-term multi-families.

I'm absolutely positive that there are things I'm not considering, but any help, opinions, and considerations would be appreciated! Thanks!

I'm working with them now and having the absolute WORST time. My realtor has also been appalled by how terrible they've been. My question is: who did you work with there? At least point, I'm locked in to working with them (probably), but wondering if I can, at the very least switch lending agents. Thanks for any help! 

I'm a new investor (we are under contract for our first rental property)!

We really took the bull by the horns on this one and patched our way through 😅 but I would LOVE some recommendations for a Tax Specialist, lender, and other important people throughout this journey!

I'm based on the west side of the Twin Cities and am investing on MN's North Shore (Duluth, Two Harbors, Grand Marais) The house were under contract for is a long-term duplex. 

We're planning to purchase a long-term property every 6-12 months and sprinkle in 3-5 short-term rentals within the next 5 years!

Any recommendations, advice, or words of wisdom are welcomed! Thank you so much!

Hey Meghan!

My husband and I are also looking to start investing in the Duluth area (or North Shore, in general). I realize this post is a bit old, but wondering if we could connect further? We're based out of Chaska. I'd love to take you out to coffee and talk more about REI! Can I email you? LMK! Thanks!