All Forum Posts by: Rene Perez

@Phillip Erickson I have a question about house haking. If you have to stay in a property for a year, how could you get new rental properties?

@Phillip Erickson really? I believe this will be my best option. Thanks for your advice.

@Sheraton Jones this article was GREAT! Thank you very much for your help.

@Jonathan Hulen, thank you. How long do you need to live in the property before you can just rent out the whole property?

@Rene Perez I have question, what if I do house hack? How would that work?

@Jonathan Greene oh, okay, thank you for your advice. I am going to check out Rentometer and go from there.

@Jonathan Greene my partners are family and they're just going to help me out. I will give them some interest, but that hasn't been discussed yet. I am not going to house hack, and my thought is to just rent out the property. How much would be a good enough down payment if I would get a property worth $299k, for 4 bed, 3 bath, 1,690 sq ft? I know a good rule of thumb is 20% down. But I would like to save some money for reserves.

@Abel Curiel thanks for the advice, I am definitely going to be searching for lenders.

I have a realtor ready to help whenever I need her expertise. I have a partner that will help me out with up to $50k, and plus my $11k. I will be putting no more than 7% into a down payment. I believe my best price point is $250k and lower. Thank you for your time and your feedback.

@Jonathan Greene

My partnership agreement for financing and profits are: partners have up to $50k for financing and I have $11k. My partners just want back whatever amount they put in.

Yes, I will be using a PM, but I do not have one yet. What I am thinking, is to purchase a rental property with 5% down and I could repair, if any, with the rest of the money. Take out a conventional loan for a 30 year fixed. I could rent the property out for $2,500 - $2,700 a month. That will get me around 10% - 12% of COC ROI. With that return I would save the money for reserves. I would really appreciate your feedback on my plan. Thank you very much for the advice.

I am a 34 year old male who is looking into earning $1,000 in passive income. I've been checking out homes in the Palmdale, CA market. I have a partner that would help me buy a rental property.

My question is: What is the best route for a new investor? Buying a SFR? A multi-family?

Rent out rooms or rent out the whole house?