All Forum Posts by: Stephanie Walker

Hi Joshua! House hacking is the way most investors get started. There are a number of ways to do it: Live in the house for 1-2 years then rent it out, purchase a multifamily: live in one unit and rent out the others, or purchase a single family and rent by the room. Traditional investing is possible, depending on the areas you're looking at and the price of entry. Have you done any research on which areas peak your interest?

It is really tough to find a cash flowing property in the Raleigh area. Most of the clients I have that end up purchasing in the Raleigh market are in it for the equity gain but it does cost them some out of pocket until they can refinance out of the higher rates some time next year, hopefully. 

I’m biased because I live in and invest in Charlotte, NC and specialize in MTR, specifically. Our owner/investor clients are happy with their purchases and their monthly returns. So much so that more than half of them have purchased a second property between 6 months to a year of working with me.

If for some reason I chose to invest in a state other than NC or SC, I’d be looking in Jacksonville, FL or Augusta, GA.

Hi Raj! I'm originally from NY too and relocated to Charlotte about 6 years ago. Current investor, property manager and REALTOR. I refer my clients to a handful of lenders but @Jon Puente is one of my favorites because of his communication, rates and he is also an investor in the Charlotte area.

Speak to your CPA and a 1031 exchange administrator to confirm and discuss! Sounds like a great deal - I'd also speak with a licensed real estate agent in your area to make sure that the price is realistic with your home. If it's higher than market value, great! If it's lower than market value, you may want to consider listing it instead. Good luck!

Quote from @Carlos Ptriawan:

What I don't understand is why for FTHB he got 9%, that's more DSCR flipper rate. Are you buying rental or for your own primary ?

Again today rate conventional is on the six already. 

Sounds to me like a bank statement loan. Interest rates are higher on Non-QM loans like DSCR and bank statement loans. We work with a lot of investors and business owners who need to go this route because of the way their tax returns read or because conventional requires two full years of tax returns for self employment income to be added.

Best time to buy is when you can afford it. Even with today’s rates, which are currently at the lowest they have been in months, can you comfortably afford it?

Refinancing costs money but it is the goal with rates expected to come down over the next year.

If you were to wait to purchase, it is very likely that home prices will, in turn, increase.

Are all of these items things that the PM knew you wanted done prior to tenancy? As a PM myself, I prefer to get all maintenance tasks done prior to tenancy to avoid these situations. 

A 1031 exchange in your situation sounds like the best route. I specialize in helping our investor clients acquire/purchase properties that actually perform in the midterm space in the Charlotte market and after closing, we manage them. I highly recommend searching for someone in your target market that specializes in your ideal niche.

I’m not sure how to get around that. I imagine a CPA would be best to reach out to for the most accurate advice. However, I do have a big need for properties in Spokane and Tacoma and would love to chat. My husband has a team of trades that need housing in those areas. They would need 30+ days.