All Forum Posts by: William Sing

Hey Muhammad, Congrats on starting!

First, I'd double-check with a lender. Ultimately it sounds like your cousin would be a co-signer. That is possible but know that you may need to season the down payment in your account for 2-3 months depending on the cost. Usually, people can gift up to about 15k I believe. Hope that helps! 

Hi there! Congrats on starting your Real Estate Investing journey!

Firstly, I would suggest looking into loan programs specific to military service, such as the VA loan program in the US, which may offer more favorable terms and lower interest rates.

If you are considering a fix-and-flip before you begin your military service, it's important to remember that this can be a time-consuming and potentially risky endeavor. You may want to consider hiring a trusted contractor or project manager to oversee the renovation and keep you updated with regular photo updates.

Alternatively, if you are considering a rental investment, it's definitely possible to manage it from a distance, but it will require more planning and preparation. You'll need to have a good system in place for screening tenants, collecting rent, handling maintenance requests, and ensuring the property is well-maintained. It's also a good idea to have a list of reliable handymen or contractors who can handle any urgent repairs while you are away.

Overall, both options can be viable depending on your goals and circumstances. It's important to do your research and seek advice from experienced investors or professionals before making any decisions. Good luck with your real estate journey!

Hey Tyson, congrats on starting your journey! Here are some thoughts that might help.

- Would someone rent a place that’s being renovated while they live there?

If you put in a small kitchenette for the Master bed/bath, I do think you could have someone rent the place while you are renovating it. The biggest issue would be having access to the kitchen and potentially the washer/dryer. You could not include a washer/dryer in the rental though. I'm also assuming this is after you have updated the master. 

- Is asking 2/3 of mortgage too much for renting the master bed/bath?

This is more market dependent than based on your mortgage. I'd take a look at Zillow and Facebook market place to see what a one-bed/master is renting for to see how much you would be able to get. 

- Should we just renovate without a renter and then house hack/rent once renovations are complete?

This depends on how much you have in reserve and if you can handle that financially and fit within your risk tolerance. Without the renter, you will be losing more money over the short term but if it allows you to get the renovations done faster it might be more advantageous. 

Hope this helps!

Congrats on starting your real estate journey! I would check out and see how much it might cost to build on there and run the numbers to see if it is worth it. New builds near the water can be tricky since there are sometimes more restrictions on them and might be a pain to deal with. Once you see the total cost and the potential return, I'd see if it is better or worse than investing in another place. Another option might be a campsite option and have a fence put between the two lots. Hope that helps!

Vacancy and CapEx might be a little low but also depends on how much you already have set aside for it. The interest rate, if it is an investor loan, is a little low as well. I'd guess closer to 7 to 7.5. This depends on the lender though. That is my two cents!

Hi Garrett! Congrats on being able to use the equity to further your investing!

As for your question about asking for the highest yield for your money, there are a couple of other factors. Time is a big one since it sounds like you are looking for more of a passive feel you may want to look into a turn-key company. You won't maximize the yield but will give you some sort of return. If you are looking to get a higher return you usually need to find someone who could use the money (i.e. being a private money lender) or put in more work to do your own flip/rental. Your time horizon is also a big factor of how risky you want to be and how much you have in reserve. If you look at those 3 major factors, I'd see what would work best for you to fit the lifestyle you want. 

I think it depends on what type of expenses. For example you can only write off a certain amount for business meals per meal. Overall, I would say it would be a lot more but check with a CPA. I was able to write off way more than 5k for my first year in business. 

Hey Gavin, Congrats on starting to anlayze Deals. Here is some feedback:

- I'd check on the interest rates. They seem a little low if they are investor loans. 

- The loan seems really low. Most lenders will need to have a loan value of at least 100k to make it worth their time so keep that in mind unless you are using some other personal loan. 

Hey Joshua, first I'd make sure that they are licensed with the state! Most general inspectors will be able to check for mold. If you want someone with a certification InterNACHI is a common one. 

Hey Troy, the property manager might be a bit on the lower side unless you are getting a deal with the PM. Most PMs are going to start at 8% and go up to about 10%