All Forum Posts by: Mary St.Clair

@Ronald Rohde - yes!! After talking to zoning/property development in my county it’s not worth all the hoops and loops to go through. It does not work to my financial benefit. Thank you for your reply!!

In all of my reading and listening to podcast/webinars I have not been able to figure out how to get a 30 year fixed rate loan thru bank financing. Is it possible to get a 30 year fixed loan without actually living in the home for the first year? I feel like this is not as complicated as I have made it. Do I just need to call enough lenders to find one that would lend on those terms?

I do know that when I form an LLC I can get commercial loans at 20 year amortization schedule and at year 5 year there is a ballon payment or the financial institution will evaluate the loan and rate and renew the loan.

Be kind to this newbie investor.

I am looking at a property that currently has two small houses ( about 800sq ft) each that sits on almost 2 acres of land. Where they are located I can rent them long term for $750/$800 each. I am looking to see if it’s possible to put a couple of tiny houses (about 300sq ft) homes on the land. My question is-has anyone rented out a tiny house short term (air bnb) or even long term and at what rental price range. I know location matters too in rental price but I don’t even know where the starting point would be. The property is right next to the Blue Ridge Parkway in Roanoke Va. Has there been a guest on the podcast that has talked about renting out a tiny house?

@Lucas Rudy

I don’t think I would be of much help as I am also in the beginning stages of investing. Currently have one SF and looking to get another one by the end of this year. I am in Roanoke. Just wanted to reach out and wish you the best!!

And by “hands on” I mean actually acquiring the second property, rehabbing it, getting it leased.  Those types of things.  I am analyzing properties and going to look at houses on the market.  

Thank you for the feedback. I am in the small town of Roanoke Virginia. The housing market here has been pretty hot in regards to properties going on the market and selling hours to a few days, at the price point that I am looking for. I have been thinking outside the MLS in regards to finding a good deal. While looking and getting the financial part lined up I have totally emmeresd myself in all the education I can get other than hands on learning.

Going thru private lending was, to be honest, really simple.  It was thru a family member (a good relationship already astamblished) who has been a really big part of my support team as I start this journey.   

Mary 

I would like some feedback on how members have formed partnerships with another individual to invest in SFH and/or small multi family units. Legally and/or logistically what has worked. Who brings what to the table?

I have one SFH that was financed thru a private lender. I am currently working on my second deal so I am a newbie in the game!!