All Forum Posts by: Nick Giulioni

How about a property manager? Have you been pre-approved for your loan?

Generally speaking, tenants are responsible for all utilities + yard maintenance on SFH. Multis can be a different story.

House hacking is inherently a compromise and you are trying to balance financial matters, convenience, and keeping a wife happy. It's NEVER easy.  But in order to do great things, sacrifices need to be made. Figure out if they make enough sense and go down that path. 

I'm personally at the point that I'm willing to work longer/harder to ensure the happiness/comfort of my family. I've done that cost benefit and found it worthwhile. Do it for yourself.

I think that being cautious today makes a lot of sense. Have multiple exit strategies. Kill off any of the dead weight in your portfolio. Make sure you cash flow. 

OPM (other people’s money) is a great strategy. That said - ask yourself - what are you bringing to the table? Are you the super deal finder that can justify bringing NO cash to the table? 

Real estate is not a free lunch and does have the potential to lose everyone a lot of money.  I’d highly recommend building up a little equity yourself first before involving private money.  Prove to yourself that you can do this before you go ask for a loan from friend/family.

There are limits to how many conventional loans you can get (10) in addition to DTI regulations that make it difficult unless you have a really solid W2 (ore really good deals). That said - there are products for people to go above the 10 if you have DTI figured out.

Would you be able to clean the place up prior to move in order to take photos? I’d probably start listing about 8/1 with availability 9/1.

I generally just use standard mortgages or seller financing (a huge can of worms).  Generally you are going to need 25-30% equity for qualify for the conventional loans.

Do not renew them. Give them 30 to 60 days (look up your local laws). If they give you a hard time, offer them cash for keys.

How much equity are you going to need to fund your buy and hold lifestyle investments? Can you make more by reinvesting in flipping? Do you need to diversify?

There isn’t a right or wrong answer - but I think you need to evaluate what your goals and risk tolerances are.