All Forum Posts by: Taylor Wade Wirthlin

Would love the opinion of some more seasoned investors on this question. My husband and I are getting bought out of a company and should leave with about 300k after tax. We want to buy a home in Charlotte, North Carolina in the 225-275k range, but are debating if we should buy it in cash. We also have approximately 180k invested with a wealth management company, so the other option is to invest our buyout money with them and then they have agreed to loan us 50-75% of the money that we have invested with them (which would be approximately 480k) for a home at a 4% interest rate.

For more context, we can't qualify for a traditional mortgage because we are self-employed and do not have two years of work history yet. Also, if we did get a loan from our wealth management company our offer for a home would still be considered a cash offer since it is not a mortgage (or at least that's what we've been told).

I'll be at the meetup Wednesday. Thanks to everyone who is arranging this. 

I would be super interested in attending a Provo meetup. I am also really new to real estate and would love to meet some people.

Hi BP community!

My husband and I are trying to pull together our first buy and hold rental property in Utah County. We are having a really hard time getting a conventional mortgage though because we are self employed and started our company (Chip Cookies if any of ya'll have heard of it) only a year and a half ago (everyone seems to require 2 years of tax returns for self-employment). We have about 150k in savings and together make about 90k/year and have a good credit score, but this self employment thing is holding us back! 

I just finished reading BP's book on creative financing, and thought it was helpful but am a little stuck on where to go next. I have talked with a couple sellers about seller financing, but few have been even slightly interested. We have also thought about finding someone to partner with, but it seems hard to find a good enough deal in this area that would work for two parties. 

I wondered if any of you in Utah have any specific advice for our market? Are there other options we should be pursuing or people we should be talking to? 

5-7 at Village Inn?

@Alpesh Parmar I haven't found a specific deal yet, but we've been working with a realtor looking for one. We're not finding much though..

I am looking to buy my first deal in the Provo area, but the market is so hot right now! I worry that the demand may slow and the market will level off or potentially crash. My Utah Valley people what do you suggest? Should I keep looking for a deal here or should I look in other markets to avoid the high purchases prices and competition?

Thanks for all of your replies! Those are all super helpful. @Jay Helms Our goals are 1. To live with a low or no monthly mortgage (we're hoping the tenants in the other half of the duplex would cover this) and 2. To get our feet wet in real estate investing and see if we want to continue at a larger scale.

I am new to real estate investing and I am hoping to purchase a duplex soon to house hack. My question is.. is there any benefits to putting a higher percentage down? Or is it better to put the lowest amount down and perhaps invest the rest of the money in another property?

I'd love to come to a future event @Gary Thompson! I am also very new to investing and interested to meet some of you and learn more.