All Forum Posts by: Lindsey Mannix

Hi Yippi,

I'd be happy to connect you with an amazing agent in KC if you'd like. Feel free to reach out anytime. As for your question about waiting on the lease to end or listing now, I have a couple of questions back - how much longer is the lease for? If you were to wait until the lease ends, can you afford to carry the costs of the property until sold? What is the need to sell? The answers to those questions would guide the recommendation I would give. Happy to connect!

~ Lindsey

Hi Jesse,

You're in the right place here at BP to find best practices, behaviors and tools for multiple investing strategies! The podcasts are super helpful and have aided me so much in my journey. As far as finding the right markets, the BP podcast called "On The Market" shares reports of best markets as do other platforms but BP is my fav for sure. Personally, I started in a market close to me as I wanted to do rentals so until I got my process down, I didn't want to venture too far from home. Now that I've got the process and people in place, I've expanded to other states but it is key to have process and people wherever you invest and whatever strategy you use. I'd definitely invest in yourself with giving time to listen to the BP podcasts to help you decide which strategy and location you'd like to focus on - think in the car, doing chores, traveling, etc...any spare time you have where you can focus on two things at once!

Best of luck,

Lindsey 

Hi Melissa,

I would start by going back to your agent and ask for them to include other properties that better align with your rental. You can also contact the listed property owners/managers on zillow, etc and ask if they can share the prior leased details to see if they'd be willing to share.

Best of luck,

Lindsey

Hi ArieAna,

Congrats on making the decision to invest in yourself and future with RE investing! Of the two options you mentioned, I personally love house hacking. It is a great starting point to get your feet wet. Once you've identified your market and where you'll be purchasing to house hack (or if you'll do it out of the home you're in today) you'll be off to the races to start your journey. Happy to answer questions for ya along the way :-)

~Lindsey

Hi there, I have been under contract to purchase my first investment property for a few weeks now. Today, I just received my property tax estimate from my lender and it went from $1000 to $3400/year. I'd like opinions on if this is a deal I should move forward with. Here are all of the details:

$159030 purchase price

$31806 down (20%)

3.5% interest rate on 30 year loan

$5500 estimated closing costs, including about $2200 of that to buy down the rate

$858/year for insurance

$2300-3400/year for taxes (the large swing will depend on when/if the property is reassessed - currently it's at $106k which is the $2300/year rate and $3400/year would be if they reassessed at $159030 (my purchase price)

I believe I can rent it for $1475/month, vacancies are low in my area but I am priced higher than most of my competition.

I've got about $2k in it already between earnest money (won't get back most likely), inspections, appraisal, etc. Thoughts on moving forward or let it go???

Thank you,

Lindsey