All Forum Posts by: Melanie Siegel

What are the "apps" triplets? Also, how would I go about finding a partner?

Partnering certainly looks like the most attractive option, but I'm leaning towards a heloc. If I'm able to easily get a heloc, which sounds much easier than a refi, I think that is the route I'll take to jump start a couple projects in the immediate future. I'll look to partner farther down the line when I have a couple projects behind me. My biggest goal is to increase income as soon possible so I don't run into any issues in the future.

The current piti plus HOA is about $850/month and it's rented for $1300/month.

I owe $93k on the property, and I'm confident it would appraise at $210k. I'd like to get out around $50k to either purchase a flip or a rental.

I'm trying to do a cash out refi on one of my rentals in Nevada so that I can reinvest the money, but I'm having a hard time qualifying. We have great credit, but because we were not planning on this refi earlier this year during tax season, we wrote off everything under the sun. The income is keeping us from qualifying. I've called four lenders and have received the same answer. I'm very new to real estate investing; do I have any options? Someone suggested amending the tax return, but one of the lenders said they would look at both returns and it could be an issue still. I do not want to sell the property or pay a higher interest rate than the current loan at 4.75. Thanks for any advice!

I'm looking to purchase fix and flips up to $300k in Peoria or Glendale, but am open to a good deal anywhere in the valley. I'd love to connect with some wholesalers and would appreciate any recommendations for good wholesalers!

I'm a fairly new agent (active for two years) and haven't done a lot of new construction sales. I received a commission check yesterday and I was wondering how common it is for builders to pay the commission on base price only vs full purchase price including options. I was pretty disappointed when I realized this builder did not include commission on over $100k worth of options.

I was directed here from an investing subreddit and am hoping someone can offer me some advice. I'm a newer investor (and part time Realtor) and I am having a hard time figuring out direction and what to do next. I currently own two sfh rentals. One costs about $900/month in total expenses (15 year conventional loan) and rents for $1150 (but will be increasing to $1250). We owe about $75k (bought it for $120k, 20% down) and it is worth $220k. I own half of it, along with my parents. The other costs us about $800/month (30 year conventional) and rents for $1300. We owe about $95k (paid $136k, put 20% down) and it's worth around $210k. While we technically put 20% down, we really only out 10% down on the property we own together with my parents, and got a loan from my inlaws for the 20% on the other property, which we figured was better since we are leveraging someone else's money. I live in a house that costs about $1000/month in expenses and could rent for about $1400, with about $50k in equity. I have been unable to unlock any of the equity in the houses because we show very little income, but we do have very good credit. What is the best thing to do going forward? We are considering buying a new home to live in that we can put a little work into and then sell so that we can rent out our current home (but this doesnt address our main problem, which is increasing income) or buying a small ~$90k home to flip and then rent/sell. We are also considering buying a lot and building, but think the cost to build is too high right now for that to be worth it. Ideally we would like to flip (father in law is a contractor and we can do most of the work ourselves) a house or two every year to make an extra $30-$50k to buy additional rental properties for long term investment, but the risk makes me nervous and I'm not sure how great my market is for flipping anymore (I'm in Phoenix). I'm assuming holding on to the current rentals is the smartest decision, but not accessing the equity is keeping us from moving forward as we don't have a lot of cash and income. My main goal is to increase income. We would consider any type of real estate investing, but just don't know where to start. I appreciate any advice!