All Forum Posts by: Tiffany Bobash

If My husband and I are on the title of a home but not the mortgage can I get insurance on it in our names? My insurance company said the mortgage company pry wouldn't allow it. Anyone have experience with this???

Will I have trouble getting a HELOC on a home that I have the title in my name but not the mortgage??? How long should I wait after I get put on the title to do so?

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Quote from @Alecia Loveless:

@Tiffany Bobash If you have any retirement funds you can combine them and purchase under a SDIRA. It’s a little bit complicated and there’s definitely some rules and regulations but you can look up SDIRA on YouTube and there’s some good and better videos on there mostly from companies wanting to host your account but still with good information.

It’s one creative way to get non-penalized funds growing towards your retirement.

Another cheap way to do STR is through STR arbitrage. Which is where you locate a good property in a good location and get the owner to agree to you renting it and putting it up as a STR. You then buy or rent the furniture which is a cost and decorate it and put it on the STR sites and you are in business. You need to be pretty certain you will make enough cash flow doing this to cover your rent and bills and any payments for your furniture and decor. Lots of people have gotten started with STRs this way. So if your rent is $2000 your heat, electricity, cable/WiFi is $700/ month and condo association fees are $350 and your furniture bills are $500 then your bills are $3550 and you can rent it for $300/night then if you rent it for 15 nights that's $4500 your cash flow is $950 month. Rent 3 more like this and you're making almost $3600 a month or more during busy season.

Thank you for the information ! I will look into this!

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Toledo, Ohio

My husband and I are trying to start in real estate investing and buy our first STR. This is a dream of ours (mine but he's all in and supportive). It seems every time we attempt to finally make the leap we get shot down! I follow multiple forums, have read lots of books, many featured on this forum, and have researched so much! We have so much passion to start this but cannot get started! Our big issue CAPITAL! It seems everyone acts as if its so easy to get capital. We have tried many things to do this without success or choices we have made were not good ones, which we are learning from. We both understand this isn't easy and wont go perfect. Any thoughts of advise from anyone??? Maybe even just some words of encouragement??

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Toledo, Ohio

Good Day fellow Bigger Pockets members! I am new to real estate investing and am planning to buy my moms house and my first STR within the next 3 months. I am unsure how to use my capital to buy. I only see two options:1. use almost all my capital to purchase my moms house which once bought I will own a home and have all of its equity which is more than 50% of what I'm buying it for. 2. Use only a portion of my capital and finance her house. Then use the other capital I have and the remaining equity to continue with my STR purchase which I will have to finance no matter what. Any advise would help! Thank you!

1 Vote

Toledo, Ohio

All Forum Posts by: Tiffany Bobash

Tiffany Bobash has started 3 posts and replied 4 times.

Post: Homeowners insurance but not on the mortgage

Post: We need HELP! or some motivation

Post: We need HELP! or some motivation

Post: Best way to use my capital