All Forum Posts by: Sharon Beatty

@James Furlo thank you! Sometimes I have trouble even finding the rent estimate on Zillow So yes multiple sources It's a good strategy

@Brad Hammond - thanks for the advice!

@Rick Pozos

@Rick Pozos - I appreciate the additional viewpoint! Obviously, I would not do anything unethical. But I'm looking for buy and hold properties. Could sub-to work for that? Or is it better to sell the property so as not to have potential issues down the road?

Hi Michael, yes I'm in Portland. How can I help?

Hello BP Community! I'm wondering if others use a paid subscription to a local rent guide, like rentometer to get to know their market? Or I guess a better question is, how do you go about finding out what the going rents are in a given area?

I'm in Portland OR and rents can vary quite a bit depending on the neighborhood, which is probably true everywhere.

Thanks in advance for the advice!

Thank you Jerel and James! It did seem a little dodgy to me but these YouTube gurus made it seem so easy and above board. Good to get objective opinions. I apologize for the slow response. I thought I'd get notifications of responses but didn't and I hadn't realized you'd both responded. My bad!

@Gordon Friedman my husband and I will be looking for a small multifamily this year. It won't be easy to find something that cash flows and I'm hoping some of the issues we're having with moratoriums might encourage people to unload property. But we'll see! Right now I think prices are still just climbing up.

My husband and I want to purchase our second investment next year. We've house-hacked our current home and created a 2bd/2bth apt in the basement. Current VA loan that we refi'd after completion to pay off credit card debt used for construction. Looking for options:

1. We could refi out of the VA loan and re-use but it cost us $20k to refi and I'm not sure that it makes sense to refi again with a bank. 3.25 interest rate now. We can go back to the VA and just refi to lower rate in Feb with no additional cost to us (as long as we don't take money out). I'm in Portland which is a white-hot market and a VA loan would limit our choices as not many sellers will go through the hoops the VA requires. We got our house because it was a real fixer upper which scared off the regular home buyer and the seller needed more money than a flipper would pay. I'm sure that scenario is out there still but very few options.

2. Seller financing. But I'm not clear on whether that means a wrap-around or something else. Help?

3. Buying a foreclosure. Not sure how we'd get the financing for that. Maybe private or hard money?

Any other options?

Thanks so much BP community!

I've been seeing a lot of YouTube videos and real estate gurus saying that the subject to loans and wraparound loans are great tools to get off Market properties. It seems a little dicey to me but that may just because I don't understand it. Does anybody else use them successfully?

Devyn,

I'd never heard of a 203k loan before! Thank you for sharing.