All Forum Posts by: Myriam Joseph

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I am looking to use an investment property for short term rentals. I was wondering where is good place to start as far as a book to expand my knowledge ?

@Michael Kinsella yes this does. What is a good method to estimate the ARV? I usually look at comps in the area within the same range to help. Any other suggestions ?

@Sean Blomquist so I would approach the lender with a rate and term refinance and that would pay off the hard money but keep a mortgage on the property . Then, 6 months later (depending on the lender) I could pull the equity out if I wanted to ?

I am looking to use hard money with my first BRRRR in the upcoming months and I have questions regarding obtaining financing. Once you're able to secure a hard money loan, and want to "buy and hold" the property, if you refinance the property with a bank, must you use those proceeds towards repaying the hard money? Essentially, if I am not going to fix and flip it, but take out refinancing on the property, will paying back the hard money lender come out from the equity pulled from the refinance?

Im a new real estate investor working on securing my first property in the next 90 days. After that is settled, I wanted to look into building a storage unit. More specifically in area where there are development plans to build a new apartment complex. My question is, should the apartment complex being built be a factor I look for when building storage? Could building elsewhere like in or close to a city be just as ideal versus close to this new development ?

Im a new real estate investor working on securing my first property in the next 90 days. After that is settled, I wanted to look into building a storage unit. More specifically in area where there are development plans to build a new apartment complex. My question is, should the apartment complex being built be a factor I look for when building storage? Could building elsewhere like in or close to a city be just as ideal versus close to this new development ?

Thank you so much for your input. I really appreciate it !

I have been reading about the FHA 100 mile rule. I am wondering if this rule is still applicable in 2021? Also, how is the mileage determined? must it be over 100? or would 98 miles suffice? How do they determine the mileage if one route on google maps is 98 miles and one route is 101 miles ?

Hello,

I am a new to real estate looking to purchase my first rental property within the next 6 months with an FHA loan. I will be moving due to a job change and am looking at areas in Allentown/Lehigh Valley/Phillipsburg , NJ or going further north in NJ like Elizabeth, NJ. I was thinking to "house hack" the property by listing on Airbnb that way I can live in the property to follow FHA guidelines but still produce income. I used the Airbnb tool on BP and the numbers seem to make sense to me. The zipcode areas I am looking at is 18101 and 18102. My questions are:

1. Does the method of listing the property on Airbnb seem appropriate?

2. Ive seen mixed reviews with those zipcodes, any commentary/help is appreciated?

3. Is Allentown a good market to try todo this with COVID and market/house market crash talks? (versus Phillipsburg or further north in NJ?)

4. I have thought about a multi-unit, but it is incredibly competitive in the area.. should I still try to get the multiunit ?

Any help, suggestions, directions ANYTHING is appreciated. The wonderful and overwhelming thing about real estate I have realized is that there are so many options and ways to go about doing things.

Thank you!