All Forum Posts by: Logan McKay Zylstra

Ashley from the BP Rookie Podcast did this with her sister. I'm pretty sure they did a whole episode on it, but if not, it can't hurt to reach out to her. 

My local market is exactly what you're describing. Salt Lake and Utah Counties have seen massive appreciation and will only continue to rise for the foreseeable future.

Congrats Collin! So awesome. First of many I hope.

What you are looking for is a syndicator. I would google syndicator + your local market (or market where you want to invest). You do need to be sure to properly vet the syndicator.

You can also buy a REIT on the stock exchange for simplicity.

Feel free to reach out to me with any more questions. 

Yes, you can use a HELOC (this is a line of credit) or cash-out refinance (which would put a mortgage on your primary home).

I sympathize with your situation. Your tenant is VERY entitled and has taken advantage of you for being kind. It all depends on what state you are in. If there has been no response, there is no problem if you rescind the offer, you will just need to give her notice and document that rescinded offer. In addition, I would start a folder documenting all your communication with her so you have a proper timeline to layout for the court or the tenant themselves.

Personally, I would get ready for eviction if allowable by your state. 

I am not the first to say this, but I really believe the best way to start out in real estate investing is through house hacking. Whether you rent by the room or buy a small multifamily property, I think this strategy is THE BEST way to get involved with real estate. The benefits are close to endless but here are the biggest advantages as I see them:

1. Low money down (which opens up real estate investing to everyone)

2. The investor's largest expense is greatly subsidized

3. House hackers enjoy the benefits of homeownership. Tax benefits, appreciation, mortgage paydown, etc.

4. Once you move out the property will cash flow (if purchased correctly)

5. House hackers get a crash course in property management

I am truly passionate about house hacking and would love to connect and chat about this strategy. Please reach out even if you aren’t local to the Utah market.

Just depends on the lender. I don't see why you couldn't get 80% LTV though.

I agree with your thought process. You could even look at a 7-year arm if you want a bit more time for appreciation to run on that property. I like the idea of using a 1031 to trade up in properties. An increase in closing costs will obviously hurt your cash on cash return, but if cash flow is more important to you then go with it.

There is no minimum in my eyes. Often people think this is only for the uber-wealthy, but I disagree. I think taking care of all the hassle and confusion for those left behind is invaluable.