All Forum Posts by: Sophia Villebro

@Robin Simon ok, thank you! 

@Robin Simon yes, this was back around October and November. 

@Chris Seveney I haven't done any numbers as far as using it as an investment for myself as I am not 100% on how that would work to begin with or how someone gets those numbers to be postive rather than negative. Im still trying to learn how a "double loan" could work in favor for all parties. Double loan meaning me having to do both a loan for myself to cover what the "gift loan" ends up not covering and paying back the "gift" loan. So essentially having to pay back the gift loan and my loan. I think it would have to be a pretty dang good purchase deal, but maybe I dont fully grasp how it all works yet..... 

I do know that the buyer would have about 75k to put down if they had to use ALL of it. Original loan preapproval was 350k. The interest rate would've been around 11-12% for a DSCR loan. As I understand it, it really was the only loan the buyer could qualify for.

I have not looked into interest only loans because I dont think that would be a good fit for me. They have pretty strict eligibility requirements in which I wouldn't meet. If I go through a wholesaler, I wouldn't be able to use it even if I would be eligible. 

Does any of that help answer your first question lol. 

Hi! I am tryin to figure out a creative way to help both my buyer and myself (as an investor) in purchasing a home and using it as a long term rental. This may be a high risk in itself just because they are people we are friends with and the tenant would be their son, gf and their two little babies. 

We have already had her go through a lender to try and obtain an investment loan. (actually 2 different lenders, both gave her basically the same result). Long story short, the numbers dont work for her.  She does have a pretty hefty down payment she can use.

I was thinking maybe through a wholesale opportunity I could try to get the type of single family property they want or as close to it as possible and use her down payment funds as a "gift" to get the property and pay the difference through a hard money loan or something along those lines. I would be the title holder and the one doing the transaction. 

First I am not 100% this is even a good idea. Second, I am not sure how to make that work to make sure it would benefit both of us. 

Any advice, suggestions or maybe a better strategy to try would be very helpful. 

Thank you.

 

This question has been tossing around in my head and thought maybe I could reach out and see what you guys think. 

As a newly licensed agent and aspiring investor - I have been contemplating on whether or not I should start a PLLC and open a business account and start putting money into that using it as a savings until I find a wothy investment(s). I cant do an LLC because I am under a broker.

Or maybe do something like an IUD contributing that, while also being able to cashout when needed and still continue getting the compound interest. 

Any advice or suggestions on this one?

It's not letting me tag anyone else who has posted..

So thanks to everyone for the Warm Welcomes and the amazing advice thus far! I cant wait to hear more!

@Dan Guenther - 

Thanks so much for the advice! House Hacking may be a little bit more of a challenge for me because I am a family of 4. But I'll look more into it and see if I can come up with some creative ways to make that work! 

Hi there! My name is Sophia! I'm originally from MN, but have lived in AZ for about 5 years now. 

I Recently obtained my real estate license last September. Since then I have been doing some research on the investment side of things. It's extremely exciting learning about all the different opportunities there are on this side of the world but also very overwhelming.

I have yet to decide on the specfic avenue I'd like to become more specialized in. As I previously stated, there are so many different options, I can't seem to make a decision yet. 

My goal is to create amazing relationships and help wherever I can.

I look forward to meeting you and soaking in your knowledge, advice and having good times!