All Forum Posts by: Laura Shinkle

Hi @Gus Muller that's awesome! How did your roommates feel about the construction and remodeling going on?! Can't imagine that was easy!

Hi @Sean McKay welcome to BP! It's a fantastic site with a lot of insight, opinions, advice and help! I'd love to hear how you got started in investing! Was it as an accidental landlord or was it intentional?

Hi @Adam Knoblich, welcome to BP! I totally understand the binge learning about REI. I did the same thing when I first discovered BP :)

Sounds like you've done your research enough to know Charlotte may not be the best market for your strategy. I wish there were more multifamily properties around here but unfortunately it just isn't a thing down here like it is up north. Finding a single family with a second living space is more doable here, but still tough!

Best of luck in your investing! If I can be of any help, being local, let me know!

This article doesn't go into any specific facts. If it was simply to give the apartment to my daughter, I wouldn't. However, what if living alone was not a good situation for the tenant anymore and this was a push to help them get care they need? I try not to be quick to judge because you never know what the real circumstances are. 

Hi guys! Late to the party, but after reading most of the comments, I felt I needed to throw in some info.

@Eliseo Rodriguez Cordoba you can find conventional loans that allow you to do less than 20% down. I work with a credit union down here that will do 10% down owner occupied WITHOUT paying PMI which is amazing.

I try to steer my clients away from FHA unless they CANNOT come up with more down payment. FHA loans add upfront MIP to the closing costs AS WELL as adding to the financed amount. FHA loans will also not allow you to drop the PMI until you've had the loan for 13 years, even if you have more than 25% equity in the home. You would have to refinance out of that loan to a conventional to get rid of the PMI. Not great for the client in my opinion.

I hope this helps! Talk to lenders, find out their programs. If anyone would like recommendations for lenders, I'm happy to help!

Laura

Hi @Martin Lindsay,

From what I understand, EXP is a great model but their office is virtual so no brick and mortar office to go to. For me personally, I CAN work at home or from wherever, but the team atmosphere is helpful to keep on track. 

Definitely chat with other agents in the office and see what experience level is and how they've enjoyed it. With both offices. What works well for an agent with 3 years experience is not what you will need.

Best of luck with that decision! Let me know if I can help :)

Laura

Just let me know when you'll be here!

Hi @Samuel Albert welcome to BP! I LOVE what you're doing with the developer! Are they townhomes or single family?

The whole reason I got my real estate license was to fund investments and *hopefully* retire early. It's a long term strategy, not an overnight one, but has been very rewarding so far!

If you come towards Charlotte, I'd love to meet up!

Hi @Matt Henry. What exactly has been your strategy so far? I saw that you have quite a few single family rentals. How is that portfolio doing?

Hi @Jonathan Tambellini! I love the strategy of small multifamily properties. 1 roof, 1 foundation, multiple tenants :)

In the Charlotte market, this strategy is VERY challenging, just because the inventory is much more limited than single family/townhouse/condos. I've also found that most of the multifamily properties are in need of a lot of repairs and/or modernizing to maximize rents. I'm not sure if that's something you would be willing/able to take on?

A good real estate agent should be able to steer you away from major issues as long as you are open with them about your situation and goals. Have you reached out to any in the area yet?