All Forum Posts by: Logan McKay Zylstra

I wouldn't. No need for the liability that comes with those injury machines.

I 100% understand why you would want a non recourse loan over a recourse loan. With that being said, if your numbers work with a big enough margin of error with a recourse loan why not go that route?

I am not saying be overly aggressive, but if your numbers work, they work.

I would disagree with Scott. While using other people's money will help you scale faster if you are just looking to maximize profit on this one deal, buy it cash (if you have the funds). 

If you don't have the funds, no reason not to partner or use hard money to get the deal done.

This all depends on your goals and how big you want your rental portfolio to get. With that being said, if I was in your shoes, I would house hack a multi-unit property. It would certainly require more funds, but you will immediately have your mortgage (at least a portion of it) covered by your tenants.

Unfortunately, you would have to wait until you build up funds again or wait until your year is up living in the property and then move into your next house hack. RE investing is slower upfront until you can stack some cash-flowing assets.

Speed depends on how busy your lender is. The few lenders that we use are able to close in about 3 weeks right now. As for rates, it depends on the size of the loan. The larger the loan, the smaller the %. I think it's typical to expect 1-2%.

If you are looking for good markets to invest in, I would recommend listening to the new BP podcast called "On the Market."

I use Rentler. I cannot speak more highly of screening, property management, and bookkeeping service. While it is free to you and the tenant, there is an application fee for screening tenants that is billed to the person applying. It gives you background, credit, and some other information as well.

Nick Huber is awesome. Super high-level thinker and does a ton of deals. He can be found on Twitter or he has a podcast that I really like.

My brother is a dentist as well up in Alaska. His DTI was very low as well because he went to a pretty expensive school, but he was still able to invest in RE.

https://sweatystartup.com/

Utah is an interesting state when it comes to geography. It is quite different from a state like Texas where there is land they can build on forever.

For those of you who are unfamiliar with Utah, most of the state’s population lives in the Northern portion of the state in what is known as the Wasatch Front. Along The Wasatch Front are mountains to the East and Lakes to the West. I-15 connects all these areas.

This presents a unique problem of having a somewhat fixed amount of land that areas, similar to what California and New York face. In my opinion, this will only support increased prices along the Wasatch Front as more and more people want to live in the populous portions of Utah. Also if we look at the job market, most jobs are deep in this area so people will want to live as close as possible to these hubs for jobs.

I have posted quite extensively about the Utah market and other Utah facts if you are interested in taking a look.