All Forum Posts by: Patrick Stewart

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My wife and I have considered a few options for expanding our real estate portfolio. We believe that house-hacking is our best bet. However, we refinanced our current primary residence 4 months ago. Our ideal scenario would be to buy a new house as our primary, live there, rehab, and then start renting it in a year. We'd also like to keep our current primary and rent it out. However, our current refi is a roadblock. 

Does anyone have a solution for getting around this? When we refi'd we had no intention of moving within a year (and renting it out). Do we really need to wait 8 more months if we want to rent our current primary residence?

Patrick

@Mark Allen yes I have thought about it... I'd be open to using my IRA for short-term investments but am hesitant to use it for long-term investments. For example, a long-term investment might require a significant repair such as a new roof, and with the max contribution of $5500 per year, it might be difficult to fund these large, irregular expenses with an IRA. Not sure what your thoughts are on this... I'd be more open to using IRA funds to invest in a real estate fund, but not to purchase a property myself.

Hi all,

I'm relatively new to BP forums... but I've been a fan of the podcasts and forums for a while. My wife and I live in Denver, CO. We have one single family rental property here and want to expand our portfolio. We've decided that Denver is most likely not our best best, as real estate is so expensive. Our main objective is to generate passive income, and we are less interested in appreciation (nice to have obviously, but cash flow is #1 objective). As of now, we are exploring a few different geographic areas... she grew up in Chicago and I grew up near Philly (close to Reading, PA) so we've been looking there. However, we've also been intrigued by Dallas and the surrounding area because of the combination of 1) relatively low prices, 2) good rental income/cap rate, 3) decent appreciation, 4) forecast appreciation and population growth. However, we don't know the area well.

Thanks,

Patrick

@Tim Porsche and @Richard Bradshaw thanks for the recommendations! 

My wife and I are looking for a real estate agent who works in and around Reading, PA. We currently live in Denver, CO, have one investment property in Denver, and are looking to expand. However, Denver real estate is really expensive right now. I grew up in Bernville, PA (Berks county) and are considering investing in rental properties in and near Reading, because 1) real estate is cheaper than Denver, 2) there are a lot of multi-family units (which we want), and 3) we can check in on real estate when we visit family in the area.

We hope to partner with an agent who has experience in the investing realm, and who is familiar with the area (I grew up near there, but haven't lived there for over a decade). We would like to have a few multi-family buildings in the next three years.

Thanks,
Patrick