All Forum Posts by: Natasha Graves

Hey Michael! I'm aware this post is quite old, however I utilized this program back in 2019 and can say I feel it has paid dividends. I used the SmartBuy program to pay off almost $33k in student loans and have househacked my extra bedrooms since. The only times it got a little hairy was during the pandemic when I wasn't used to having vacancy. However my actual mortgage for a 4bd 3bth home ended up being the same (if not better in some areas) than a 1bd in DC, so all in all it's been great. 

2024 I'll be eligible to refi, sell, buy another primary, or really do anything without paying back any of the student loan debt. Some people have criticized the .25% increase in interest rate HOWEVER, it's literally only 5 years and if you do the math you would have paid way more than that in loan interest if you choose to pay it off on your own terms. The only caveat is the inability to purchase a primary for 5 years, so you would have to buy strictly investment properties for the duration of that time. 

If you want to connect further, please pm me! 

I'm in the DMV area and as we all know there are a ton of AirBNB rules throughout the market. That being said, how exactly do you acquire a rental license on a STR if you're doing an arbitrage deal? Would you just use the long-term rental license as the license on the listing? I'm not necessarily looking to go that route, but am curious about how that shakes out.

Also - if there is anyone that would be open to adding an assistant to their team, I would love to learn by helping someone with the back of house management. I currently own two SF properties, but am looking to get more involved in understanding the financials and management aspect of the business. If there is anyone that needs a part-time assistant I am more than open to helping out and learning along the way.

Any help is always so appreciated!

@Ozzy Sirimsi I agree with the idea that a lot of wholesalers are overpriced at the moment BUT I have been able to forge a few good relationships with reasonable teams. Since we last spoke, I've been able to hone in on the best neighborhoods for my capital so thanks again for all of your well targeted advice!

@Herbert Lewis thanks! Reaching out to wholesalers has been one of the other tasks I've implemented recently and working with an RE agent from the area has helped me to zone in on good neighborhoods.

@James Ellis I've looked into a few of these programs and haven't had much luck as of late.  Perhaps I'm not diving deep enough, but I will reach out for more information.

Thank you!

@Andrea Lane thank you! I've seen a bunch of properties that are at lower rates but the ARV isn't necessarily there so the deal doesn't make much sense for a flip. I love the strategy of talking to the neighbors though. This would give a lot of great insight not included on a typical MLS listing.

Since the end of May I've been looking with my agent for a good property to flip in Baltimore City and as we all know the market is nothing short of crazy. Any property I had my eye on either was under contract by the time the sellers agent got back or was priced too high for hard money lenders to want to touch. I'm looking for agents that have off-market deals and advice on how to best leverage my cash for a flip in this market. I would also like advice from anyone that doesn't have deep pockets and can't househack on how to purchase my first rental property and maximize the potential to purchase another property within 6 months to a year. (I'm obviously option to all options for investing.)

For context, I currently own and rent rooms in my home in PG county off the border of DC so house hacking currently isn't a true option for me (took advantage of first-time home buying programs so I have to wait a couple of years). My options for financing are to use hard money at a max of $25k down or apply for a HELOC since the value of homes in my neighborhood have gone up pretty high. Best case scenario that would allow or an additional $35k in cash on hand.

Thank you so much for the documentation! I'm looking to start my first flip VERY soon so posts like these keep me motivated.

@Richard Mollel Thanks Richard! I had Hyattsville and Capitol Heights in my mind when writing this post actually - one that is obviously appreciating very quickly and the other still undergoing large developments. In order to legally rent by room what are the local laws? Does this require a permit or is it still seen as a single family but with separate leases? 

@Alan C. thanks for your insight. I am messaging you now.