All Forum Posts by: Martin Carstens

I try to make it part of my morning routine, and read at least one item daily.  I would NEVER be where I am with out this wealth of information. The  willingness of others to share knowledge, real life experiences and observations have educated me and inspired me. Truth be told. I went from zero to twelve rental homes in ten years, and am very grateful for all the generosity shared by others. 

Ryan, all lenders are different.  If you do not ask the question, many do not see it as, they need to educate you.  Six months is a long time, too long. I have had to explain a rental car charge. You are asking them for funding, so they want to know all about you, and then some!  Some lenders are very good at solving problems, some not.  Shop around, and have a list of questions ready.  Like wise, when they have a financial question for you. Be ready with documentation and an answer. Net working is everything.  Expand your net work, and find the right lender for you & your needs. Best of luck in the New Year!

Trent,  do not limit yourself.  If you have very simple financial package? Go with who ever is willing to fund a purchase. This could be a national lender, or a small local institution.  Getting a "yes" to funding can be a major achievement. As you grow, spreading out your funding will happen naturally.  Best of luck!  

Corey,  although not far from your home.  Try reading the daily news paper on line.  You will get a better idea of what is taking place the local area. "The vibe"  Everything from crime rates, to a new employer moving in. In addition to local building, growth, traffic issues and overall transportation.  This is a simple, daily thing to do. That is all too often over looked. And can give you a wealth of information.  best of luck! 

Garit, you answered your own question, 

"Wouldn't this make me a good risk, to the right lender?" Of course it would!  First of all. Remind yourself. This is a good problem to have! At the moment, there are many sad problems!  Second. Do NOT take no for an answer!  The lender is out there. You just have to find them. A mountain of paper work, yes. Time consuming & repetitive, yes. A royal pain, yes! However with a dozen no's. You only need one yes. I could not tell you how many times, I have been turned down. And then someone looks at the exact same information, and says yes! You can do it! Good luck!

Hunter, you can always sell. However you only get to do it once! Try the rental, see if you can work it out? I spend eight months a year on the high seas. If I can do it "with a manager" anyone can!

Best of luck! 

Destin, Elijah is correct. Selling is a one time decision. You can always sell. Try the rental plan. See if it works? You are already educating yourself, and on the right track! This could be the start of passive income for you, and a great way to challenge yourself! Best of luck! 

Jon, first of all congratulations. This is a great problem to have! You are being pro-active, moving forward and doing something about it. There is a very long list of ugly problems you could have, and you my friend have none of them. Under no circumstances take no for an answer! Every lender looks at the numbers in a different view. This  can be your opportunity, and it will be.  You just have to find that one YES! Time consuming, yes you bet. A royal pain, yes.  Every application can & will be a learning experience. With endless hours scanning, sending and finding the next request.  Remember, your asking for alot of money. They want to know everything about you. Reach out to credit unions, small local banks, heck walk in the door and see it anyone has time to talk to you? Most of all, keep applying and you will find that one YES! Good Luck! 

Luke, many good sugestions here.  Easy one that is always over looked. Read the local paper! Once you narrow down the city, town and neighborhood. The local news is a wealth of information. New employer moving to the area? New school being built? Crime rate? Any and all construction projections to take note of. Great, easy way to self educated, when you don't live in the area. Best of luck!

Josh,  many good words of thought here, on the above! Idaho is a awsome state!  Regarding the beautiful parks. I always point out the beauty does not stop at the park boundary! Eastern Idaho, has much to offer, in both work & play. Northern Idaho is unique in its on beauty. Boise and the west side are exploding with growth and have opportunity for anyone that is looking. Enjoy your trip, and discover what many people already know!