All Forum Posts by: Manda Gouvion

is it required to put 20% down when it's strictly an investment? Or can you put only 5% down on an investment property?

@Cody L. I'm still incredibly impressed!! My goal is to make enough income to allow us to live financially like we do now but with my husband only working part time in 10 years. My husband makes good money (working sometimes 60-70 hours a week) so it's a big goal but I think it's also a generous timeline. Either way, if our family could spend more time together man that would be great. I don't think I'd stop there though haha once I get to that level of investing I'll probably be even more obsessed and hooked than I am now!!

@Bonnie Low Thank you!! We're leaning towards the BRRRR so that book is definitely one I want to get in my kindle collection. Right now I have 2 books I'm bouncing between plus the rich dad poor dad audio book so I'm a little overwhelmed with information. I have a feeling it's going to be several months before we pull the trigger but we're also having our second baby in 3 months! I think my biggest fear is getting stalled so many times that I start feeling like it's not supposed to be in our future or something. With our first baby I definitely lost myself in anxiety and motherhood for like a year. I'm actually kind of hoping having this real estate passion will help me stay me! But I just don't know. Those hormones man!!

@Andrew Postell Thanks!! We're still nailing down which strategy we want to use to invest in. I think we're leaning towards doing the BRRRR but that means I also need some serious research with rehab estimates and finding contractors. My mom, dad and father in law all have done renovations or built a house and I think each of them went through at least 3 contractors in the process. I don't want to get stuck with a HML and our project taking 4 months to finish because I can't trust people or get swindled :| I wonder if that was kind of a Kansas thing though because just having been born and raised there people don't often take a whole lot of pride in their work. It's family oriented there. Not a business hub by a long shot.

@Cody L. man I have GOT to read that book!!! I got the audio book and am like 10 minutes into it but I keep going back and forth between podcasts, hard copy books, youtube videos and the rich dad poor dad audiobook. I'm SO obsessed and excited to learn that I hardly know where to start haha

@Keith Daniel That's awesome!! My mom, dad and sister all own their own businesses and mistakes DEFINITELY happen so it does kind of paralyze me a little just seeing my mom finally file bankruptcy. I always said I'd never own my own business but here I am haha too passionate about real estate to not want to at least try it!!!

@Michelle Harrington I forget now the rules for buying it just strictly as a rental... do you have to have more down if it's not going to be your primary residence or do you have to have an LLC or what's the advantage to buying it and living in it vs just buying it as a rental? I read it but honestly I've done so much research in the past 5 days since I started that I'm a little fried haha

@Cody L. JEEZE 2000?? Is that a typo! haha how long has it taken you to build up that kind of portfolio?

@Tika Eaton house hacking sounds AWESOME! but we still have a year lease on our apartment AND we don't know if we want to stay in Texas... Plus I love our apartment haha and I'm so tired of moving. We're having another baby in 3 months and I'm dreading moving with two under two into a fixer upper just to again move once we lived there a year, grew equity and were ready to move on. What would you do? I think since there's really nothing I'm comfortable doing with our current living situation for the next year (I definitely don't want to break lease while pregnant or shortly after he's born) I really want to get into the BRRRR method.

@Andrew Postell this is so so sooo helpful thank you! 

The thing with DFW that's turning me away is the competition. I saw another girl post that this is basically a place for the pros and us newbies have a hard time getting in... what are your thoughts?