All Forum Posts by: Tiffany Da Silva

Hello All,

I have been investing for the last 4 years in real estate and am on the way to purchasing my 3rd property (a flip :)

I am having a hard time knowing how I should organize my incomes, expenses, taxes, ect for easy bookeeping, to help keep everything separate legally, & to produce income on the money sitting in the accounts.

I can only explain my ideal thoughts in a graphic design so i will include that here:

Does this make sense in order to maximize profits & keep things organized? 

Few notes: I will not touch the money in these accounts unless the income is being used to buy a flip or another property, which is about 10 months for me so that money will be sitting there.

I am considering a HYSA from Capital one as i saw as of today their APY is 4+% with a minimum deposit of $10K

I will be using baselane to organize and manage these transactions.

Any criticism / advice is welcome :)

 Hey Amber, The home hasn't been rented just yet as we are finishing up renovations & we just purchased it 6 months ago. I think that is the biggest issue but perhaps next year when my income is better I might be able to use both my income and the boarder income.

 Hey Ko! Thank you for the idea! I actually just did a dscr loan to pay off the hard money I borrowed on the second property (where we live and rent the actual house) I estimate the appraisal to come in around $215-280K which if I were to take out 80% would barley give me enough to buy anything in the FL market and have cash left over for renovations.

Not sure if im missing a step here or if it might be best to buy an auction home with that cash to flip and have more capital to have more deal options. 

I would love to hear your thoughts :)

Hey Randy,

Thank you so much for the feedback! I truly have a unique situation as one of my mentors mentioned so I am trying to see what the best decision to do with what I have is. I typically do most of the work myself or hire my handy man who does just about everything and for a great price.

I definitely have more experience in the construction industry than in the mortgage one for now, but I would love to chat further if you're willing to share some of the knowledge you have :) (up to this point it has been only my mother and I investing and we have about 6 properties collectively.)

Thank you for all of the input!!

 Thank you for that! We just bought it 6 months ago so I haven't been there for too long. I would definitely consider house hacking again but since we just bought out dream little piece of land to park our movable tiny house its definitely not my first thought. 

I will 100% look into the loan program though and see how maybe I can use it to my benefit :)

Hey Randy,

Thank you so much for the feedback! I truly have a unique situation as one of my mentors mentioned so I am trying to see what the best decision to do with what I have is. I typically do most of the work myself or hire my handy man who does just about everything and for a great price.

I definitely have more experience in the construction industry than in the mortgage one for now, but I would love to chat further if you're willing to share some of the knowledge you have :) (up to this point it has been only my mother and I investing and we have about 6 properties collectively.)

Thank you for all of the input!!

Thanks William for that insight! I actually work for a mortgage company and am a loan officer myself but as I just started i'm trying to wrap my head around all the programs and markets.

My broker doesn't focus on investors so it might be wise to find someone who does and learn from them. I will definitely look into those programs though! :)

Investment Info:

Other buy & hold investment.

Purchase price: $135,000
Cash invested: $40,000

I purchased this farm as a place to park out tiny house on wheels & to be able to rent out the house on the property to have a cash-flowing primary residence ;)

What made you interested in investing in this type of deal?

I had been looking for a place to park my tiny house and I figured it would be easier to get a loan on a house than on land - not to mention the infrastructure. So I wanted to purchase something that would not only make me money - but also a place to live.

How did you find this deal and how did you negotiate it?

Found this deal on market & we negotiated normally. Original asking was $145K but since the condition was not good we offered $125K and landed in the middle.

How did you finance this deal?

Cash out refi on another property.

How did you add value to the deal?

we renovated EVERYTHING. New plumbing, electrical, well, - shouldn't have any cap x expenses for a while!

What was the outcome?

A great rental that also gives us a place to live.

Lessons learned? Challenges?

Rehab went over budget.
Financing is not as easy as it seems...

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Myself (loan officer)
& my mom Lucy Martins which is a realtor :)

Hello Everyone,

I currently have 2 rental properties averaging $3,300/month in cashflow. I have 1 mortgage in my name (about $1500/month). My income is on the lower side since I have declared smaller amounts since 2022. (I still haven't done my 2023 returns since this has been weighing the decision).

That being said, I have a goal to buy another investment property this year and possibly do the BRRR strategy or a flip to get more capital on hand. I currently have 30K cash from the cash out refi I did on another property as well that could serve as a DP.

I would love to hear thoughts on what the best course of action would be to get more cash flowing into the portfolio. I would like to possibly purchase a multiplex 2-4 units that is a proven winner when comparing costs to return. would this be ideal? if so, what would be the best way to get the money to fund this without having to do partnerships?

Hello all!

I recently purchased a small farm (1 acre) with a house that we just finished remodeling. I am planning on renting the house out for roughly $1950 to have some extra income to use when showing income for my next loan. Problem is since its a "single family" residence it can't be my primary & an investment at the same time therefore I can't qualify it as income. (we live in a tiny house on the acre separate from the house)

Has anyone dealt with something similar or know what is the best way to make that income usable for a loan? If not are there any other loan programs that could get capital to buy another investment?