All Forum Posts by: Ryan Badowski

Hi there-

2 years ago, I purchased my primary residence and only put 5%, which in result has had me paying PMI. My house is now estimated to be worth much more which puts me over the 20% mark and should rid me of this PMI.

How do I actually get rid of this PMI payment so I do not have to pay it anymore? Do I simply need to have somebody come out and appraise my house and then send that info to my current lender?

Thanks in advance for the help!

@Chace Fraser Thanks Chase

Say I house hack my current residence, and then move into a different new SFH, and in turn, rent out all the rooms in that first home.

Does that turn home 1 into an "investment" property? Technically its still in my name, I am just now not living there but still own it one the original loan and renting out the rooms. Does anything change from a loan or legality standpoint now that house 1 is fully rented and not my primary residence?

I bought my current residence 2 years ago with an FHA loan. Because I've lived in it over a year, am I now allowed to go buy another home and move into it utilizing a new FHA loan.

 
If not, what is the best, low down-payment financing strategy?

For an on fire Newbie who just read, “how to invest in real estate” by Brandon Turner and Josh Dorkin, what book would be best “to follow”. 

Kiyosaki has his books and which to read after each. Was curious if there is an order to best read these BP books that way I can efficiently and effectively grasp the concepts and apply.

Interested in BRRRR and long distance investing but curious if I should read "rentals" first? Thoughts? Other recommendations that are a "MUST"?

Hi y'all- I am looking to turn my primary residence (SFH) and house hack by renting by the room.

How do I effectively market or go about finding tenants to fill these rooms?

Are there other specific sites that best do the job for rentals? 

If I were to hire a property manager will they market and screen tenants for me?

Thanks in advance 
 

Thanks friends!

I am looking at an out of state deal in the midwest. Currently located in Raleigh, NC, so for a first deal, and it being long distance, trying to understand the dynamics and the people I will need to bring on board.

Currently reading "How to invest in real estate" by our BP guys, (BT and JD), but getting trigger finger ancy looking at some of these opportunities and want to know how to take a step forward.

I appreciate you! @Theresa Harris @Michael J. @Bruce Woodruff

Hi y’all!  I have a question regarding making offers. 

What does this process look like? 

Say I see a listing on realtor.com that I want to make an offer on. I am preapproved, but do not have an agent.

How do i make an offer and will it “cost” me anything up front if accepted? Isn’t there money that’s needed to be put down for due diligence on top of escrow etc?

Seeking clarity. Apologies if I’m all over the place😅.

What's up team! I am seeking applicable first steps as to how to turn my primary residence SFH into a Co-living space. I will be moving out of the house to provide me my first investment property

Questions I have before pulling the trigger and doing this are:

How do I first go about setting this up? Do I simply contact a property management company to help me prep the house and get it ready to open to market?

Who is the team member to help me draw up a lease agreement? Is this something property management companies offer or is this a whole different team memeber altogether?

My residence does have an HOA and allows for rentals, but not sure if multiple tenants per household will fly? It does for city, but not sure on HOA.. would you email them and find out? Can I look this up? Or would you roll the dice all together and ask for forgiveness later?

For Co living investors, are you creating these within an LLC for tax benefits, and if so, how? Ive heard a few comments in some recent BP podcasts about how it's hard for an llc to obtain a loan for a SFH? Are all co living investors taking on the personal liability risk unless they can buy the home outright or use private money? Curious as to how i can llc to protect myself and receive the tax benefits, while also being able to obtain loans.

Thanks so much in advance here. First post as I salivate for financial freedom.