All Forum Posts by: Ross Gleason

@Rylan Weaver If you're on a desktop there's three dots at the top right of the comment and you can update it so that it no longer shows your phone number. (atleast I'm pretty sure it works that way)

@Rylan Weaver My man I would strongly recommend removing that last comment of yours and starting a Private Message with Mr Nix. While I'm all for good communication, this website can be accessed by anyone and I certainly don't trust everyone with my phone number.

In an attempt to talk contribute something that's not as negative as many things in this world currently are, I'm curious. What is the best deal you've done so far in your REI career?

 I did not know that, I haven't really looked into USDA loans for my first deal because I'm looking to try and stay within my town for my first deal, but it seems to me that a loan officer in your area should know in layman's terms what criteria the property would need beyond being in a USDA approved location. Good luck on your house hack!

I thought that as long as it is owner occupied it counted, but I would contact a loan officer who's got experience with USDA loans in your area.

This is one thing that I've always wondered about. I see people preach on here about BRRRR and while I think getting to invest the same capital over and over again sounds interesting, it's way too risky for me and my current situation.

I've always thought that it would make more sense to own properties free and clear, because of the extra freedom it provides. While you obviously want to get every penny possible with something you own out right you have significantly more room to lower rent to help make sure that you always have a tenant. I get that lowering rent too much will attract the wrong tenants and even scare some good tenants away because there may be something wrong with the unit, it seems reasonable to me that you could ask a few hundred under "market value" and still get fine tenants in a relatively short amount of time.

I'm in the exact same boat as you are @Thomas Mackay. 21 and looking to start house hacking.

While not from my own experience, I've seen on other threads where people strongly recommend not getting too ahead of yourself. Like I'm for sure going to give househacking a try, but I'm not currently worried about my second deal yet because I haven't done my first one yet and don't know what lessons I have yet to learn.

While ideally I would like to get into small MFH, I'm not getting too attached to that idea because I don't know what my situation will be like when I'm ready for that second deal or if I'll still want to do that after my first deal. That way if househacking doesn't go well or I'm not ready to be a landlord, I'm not losing as much because I'm not getting too emotionally attached to that kind of growth.

Not an investor yet, but the property managers for the apartment complex I currently reside in use Docusign and it's extremely easy to use and access the lease on the tenant side. I don't know if there's a cost associated with it but I can say the only problem I've had with it is sometimes the PM will set accidentally set the due date for a few hours after the initial sending instead of a couple days out, but I think that's likely to be more on the PM and not Docusign.

@Shawn Skaggs Okay, that makes sense. The way I interpreted your original post, I thought that you were going to use it as a down payment on another property which seemed goofy to me. Thank you for the information!

So what would the value of using a HELOC here instead of doing a cash out refi? Because if you have significant equity in your home it would make sense to me that you'd want to go for a low interest fixed rate mortgage, instead of paying interest on the rest of the home and interest on the down payment for your next property.