All Forum Posts by: Niaja Farve

Update: 
Its been awhile, but life got pretty hectic. Here are a few wins from last week:
- Closing on a property this week (fingers crossed).
- Determined some clear search metrics for MLS listings (so far not much in that category)

Action Items:

- Come up with a outreach text for the list of vacant homes I receive monthly from my local county
- Find some wholesale mailing lists. 

Update: 
Since last week I have:
- Made an offer on a property (it wasn't accepted)
- Talked to a hard money lender. I am a little bit clearer on the process with hard money lenders
- Made a deal analysis spreadsheet and compared the output to the bigger pockets analyzer. Realized a few more things I can add to that spreadsheet. 

Goals for next week:
- Determine some criteria for MLS searches (I feel like I keep searching different things)
- Come up with a outreach text for the list of vacant homes I receive monthly from my local county
- Continue to analyze a deal a day. 

 Yes I am. I didn't include it on the list because I already have the money, but good point. 

For awhile now I have had goals around real estate and really have progressed as far as I would like. This post is meant to document my journey to hitting my real estate goals as well as holding myself accountable. 

Goal: $4000 a month for real estate
Starting Point: $200 a month from real estate

Current Markets:

- Wake County, NC

- Montgomery County, MD

Things I need to be doing more of: 

- Find more funding sources

- Analyzing more leads

- Get more creative on making a deal in host cost markets

The plan:

- Post updates at least weekly

- Commit to analyzing a deal a day

- Identify more markets

- Learn more about multi-family real estate

Feel free to ask questions, leave suggestions and/or join the accountability train. 

One reason I would prefer a heloc is that I can pay down the loan and just have the one mortgage. Where with refinancing, if the market dips you could be in a situation where you owe more than the house is worth. Even if you pay down the cash portion you take out your mortgage is still the higher payment. 

First citizens told me they don’t do HELOCs on investment properties. 

Hi Alex,

Where was this property?

Wow great to know!

Hi Bigger Pockets Community, 

I am closing on a property that is currently rented to a company (church group). I am going to offer the ability to continue staying in the property after completing my rental application. However, I wonder how to vet a company verses an individual. Do I have the company complete the application, but request each resident be placed on the application?

Thanks for any clarifications you can provide. 

Thanks for the suggestion!