All Forum Posts by: Ryan Rominger

You can always check out a network of local investors or you may want to consider REIA meetings. If you know property managers or realtors, they may have great referrals! But first, you need to understand what project you're looking to finish - flips, rehabs, or turnovers since some contractors specialize in specific types of projects.

Great insights! San Diego's appreciation and rent growth definitely make a strong case for investing locally, especially with house hacking. Leveraging low-down-payment options can be a smart way to get started while keeping long-term flexibility. Curious—how do you approach finding BRRRR deals in a thriving market like San Diego?

With $10K, I'd focus on building capital and connections first. Wholesaling is a great way to learn the market and generate cash without a huge upfront investment. Partnering with an investor on a small rental—maybe covering part of the down payment or repairs—could also work if you find the right deal. If long-term buy-and-hold is the goal, house hacking a small multi-unit or creative financing (seller financing, BRRRR) could stretch that budget further.

Welcome to Indy investing! You’ve picked some great areas—Fountain Square and Bates-Hendricks are hot for flips with strong appreciation, while Irvington and Broad Ripple offer solid rental demand. Near Eastside has pockets of opportunity but varies street by street, so due diligence is key. Excited to see how your journey unfolds!

All solid markets with strong rental demand! Indy offers affordable entry points and steady appreciation, especially in growing suburbs. Chattanooga has a mix of cash flow and appreciation potential, plus a growing job market. Raleigh’s economy is booming, but prices are higher—great for long-term holds. It all really depends on your investing goal - at least, your topmost priority. Are you looking to prioritize cash flow, appreciation, or both? 

Right now, we’re focusing on strategic refinancing, locking in fixed rates where possible, and structuring deals with seller financing or rate buydowns to keep cash flow strong. Also keeping an eye on value-add opportunities where we can force appreciation to offset higher borrowing costs.

Pros:

• Easier Qualification: Sellers may have more flexible criteria than traditional lenders.​

• Flexible Terms: You can negotiate down payments, interest rates, and repayment schedules.​

• Lower Closing Costs: Bypassing traditional lenders can reduce fees.​

Cons:

• Higher Interest Rates: Sellers might charge more to offset their risk.​

• Shorter Repayment Terms: Loans may have shorter durations, leading to larger monthly payments or balloon payments.​

• Due-on-Sale Clause: If the seller's mortgage has this clause, the lender could demand full repayment upon sale.​

Considerations:

• Legal Review: Have a real estate attorney examine the contract to ensure clarity on all terms.​

• Property Title: Ensure the title is clear of liens and encumbrances.​

• Down Payment: Be prepared for a substantial upfront payment, as sellers often require this to mitigate their risk.​

• Default Consequences: Understand the repercussions if you can't meet the payment terms.

Refinancing your FHA loan into a conventional loan to free up your FHA eligibility for a second property can work, but there are trade-offs. Yes, today's higher interest rates mean your new conventional loan will likely have a higher rate than your current 3.5%, so you'd need to run the numbers to see if it's worth it.

The upside is that using FHA again lets you put as little as 3.5% down on your next primary residence, keeping more cash for future investments. The downside is that refinancing resets your loan terms and could come with closing costs.

If you have strong credit and enough equity, you might also consider a HELOC or home equity loan instead of refinancing.

I’d definitely pause on signing with the agent until you explore your tenant’s offer. If he qualifies, a direct sale could save you commission and simplify the process.

If you still want a realtor’s help (which makes sense given Maryland’s laws), you could negotiate a reduced commission for handling paperwork and compliance rather than full representation. Some agents offer limited-service agreements for this.

As for pricing, if comps support $235K and inventory is tight, you’re right to push for top dollar. Listing at $215K just because another unit is priced there isn’t necessarily the best move.

Have you asked your tenant if he’s pre-approved yet? That’ll give you a better sense of how real his offer is.

If nothing is damaged beyond normal wear and tear, your best leverage is financial. Raising the rent closer to market rate ($300 instead of $100-$150) could either incentivize better care or naturally push them out if they don’t want to pay more.

If they stay, you could introduce cleaning inspections in the lease renewal terms or even offer a professional cleaning service quarterly (baked into rent). If the condition is really bad, terminating the lease and re-renting at full market might be worth the upfront cost of turnover.