All Forum Posts by: Michael Kistner

I’ve had luck with two small local banks. I’d start there. 

@Monica Hanratty

   You can have the rent increased the second year just have it written out on the lease.

     Year one from x date to x date for $x. Year two from x date to x date for $x.

    As for the window guards, I'm not sure that you're legally required to install them, but if you're really concerned about it I'd just get them installed. They can't be too expensive and it'll give you peace of mind.

    Good luck!

 - Mike

@Phillip Denny

You may be able to find a lender that will give you a HELOC on the three investment properties.

Even if you got a HELOC off your primary I'd only look for BRRR investments that way you're paying that credit back quickly.

    Being forced to get creative is definietly a fun and frustrating experience. Good luck!

 - Mike

@Benjamin Hammerly

  There's definitely some solid advice given. I wish I had read it before I started investing out of state. I still go back and look at it from time to time. Enjoy!

 - Mike

@Brenda Chen that would be great! Thank you!!

 - Mike

Hello BP Community,

    I'm getting closer to leaving my day job to pursue Real Estate full time. As an agent and investor. My question is for other agents who have done the same thing. What was the tipping point from leaving a stable job to be a full time agent and investor?

    Was it a certain number in cash flow? A steady clientele? And is there anything you would have done differently in hindsight as an agent and investor?

Thank you!

 - Mike

@Navid Sadighi If you don’t own a primary home I’d like for a mf. 2-4 units. Lower your monthly payment, build some equity, get some tax write offs, and eventually pull out some cash or HELOC off of it. That’s the route I went and has paid off huge. Good luck! - Mike

@Obadiah Roszman You have the right plan. You just need to shop around. Is the bank a local one or a national bank? Ive had luck with small local banks and credit unions lending on the appraised value. I’ve heard it taking people up to 20 phone calls before finding someone. Just pick up the phone and start calling around. Good luck! -Mike

@Hayden Norris if it truly is an 11.5 year lease that be a concern for me too. I just don’t see that being the case. I could be wrong but it’s very unlikely. I’d just check into it. Simple phone call and you’ll know. 

@Rayna Todorcheva

   I've taken an in class course in Florida and an Online course in California. I can tell you for those two states the information is fairly similar. It comes down to if you're self motivated enough to take online classes. If you don't know for sure that you'll be able to push yourself I'd just take the in class course. Good luck!

  - Mike