All Forum Posts by: William Sing

Thought I'd tag @Julee Felsman in this since this is in her area of expertise! She helped me through my 203k loan. 

Hey Devin, congrats on building an ADU! It is not an easy process.

1) Yep you can do a HELOC or another line of credit that in 2nd position.

2) That is a tricky one. Sounds like you have done the math but the likelihood we get down to those rates again is relatively low. If you have the HELOC or something similar it would act like cash and would be a nice line of credit you can pay down if needed. I'd run the numbers and see where the breaking point is financing-wise to refinance it all in one.

Hi @Holly Dentry! Sifting through all of the information take a while. If you are looking for more terminology and understanding it usually doing a standard google search will help out a lot. If you want you can also go to the county permit office and they can help you decipher the property side of things. Having a good relationship with a title company can also help pull these records. Here are some websites you can check out to do some more research:

The National Archives - The National Archives website provides access to a wide range of public records, including census data, military records, immigration and naturalization records, and more.

USA.gov - USA.gov is a government-run website that provides access to a wide range of public records, including court records, property records, and business licenses and permits.

SEC EDGAR - The SEC EDGAR database is a public repository of filings and disclosures from publicly traded companies in the United States.

Better Business Bureau - The Better Business Bureau website allows you to search for businesses and view their ratings, reviews, and complaint history.

Dun & Bradstreet - Dun & Bradstreet is a database of businesses that provides information on company history, financials, and other business data.

LinkedIn - LinkedIn is a social media platform for professionals that can be used to research businesses and their employees, view job postings, and more.

Yelp - Yelp is a website and mobile app that allows users to search for businesses and view ratings, reviews, and photos.

Recommend using less professional sites like craigslist and facebook market place. Look for less professional photos and such. Hope that helps!

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.