All Forum Posts by: Lisa Shows

Thank you Jeff!  This is a very interesting idea! 

My 5 siblings and I have inherited my late father's primary residence.  We are considering keeping it as a rental property and splitting the revenue.  However, my brother has proposed another option: that we sell and after realtor's fees I take the money and use it as a private RE loan, with an agreed upon interest rate.  This amount would probably be around $180,000. He is proposing a percentage rate around 8%.  I know this is slightly higher than current investment mortgage rates, but I am wondering more about the long term - would it be worth it to have a higher ongoing interest rate for a pot of money that gives me flexibility?  The idea would be I would pay them over the long term, not just refinance and pay off the loan. 

I am thinking of scenarios such as buying one property outright with cash then refinancing in order to continue the process with as many properties I can get (eventually likely just using it for a down payment). I used hard money for my first rental property and I think this method would simplify the process. I know part of this calculation depends on the numbers of a particular deal I might find.  

I would love to get some perspectives from other investors as I don't have any other investors I know in person to discuss this with. 

Thanks!

Hi Charles, thanks for the response. 

Hi everyone, 

I just bought my first rental property and doing a BRRRR, but I am not replacing all the mechanicals at this time as they likely have some life left in them (furnace, HVAC, etc). I am wondering if a home warranty would be worth it as these will likely cost a lot when they inevitably need to be replaced. Does anyone have thoughts on this?

Thanks!

Thank you @Mike D'Arrigo! That makes sense.  Indy might be in my future! I appreciate your offer to talk and I may reach out in the future. :)

@Michael Craven, thank you for your response.  I recently visited Cincinnati and am working to get financing together to buy there. I like the idea of Dayton but worry about the economy, though I don't know if that is founded.  At this point I have started to put together a team in Cincinnati and am going to focus there.  I might reach out and pick your brain since you live there, at some point in this process, if you are ok with that.   Also I am still thinking about Indy in the future but want to get a foothold in Cincinnati first.  Good to know you have knowledge about both! Thanks! 

Thank you @Joseph Cornwell for the response and offer.  I will message you directly. :)

Thank you @Colton Hahn! Good to hear and I may reach out directly with questions in the future. :)

Hi everyone, 

I am researching to begin long-distance investing in duplexes or SFHs for long term buy and hold investing. I live in a more expensive market so have been focusing on the mid-west for price. Monthly cash-flow rather than appreciation. My hope would be to buy 5+ doors in one city then likely move to a next.  At this point I am having some trouble narrowing it down to 1-2 cities (which I plan to visit to make my final choice), as cities that seem to have more economic health also seem to be slightly (but maybe not) out of my price range. I am focusing in on Cincinnati, Indianapolis, and Dayton at this point.  Is Dayton too much in decline?  Any long-distance or local Dayton investors that can give me some perspective? Any Cincinnati or Indianapolis investors willing to connect and share expertise? 

Thanks!!

Lisa

Ah, thanks Alli!  Very helpful and good to know I'm not just missing it.  Thanks!!

Lisa