All Forum Posts by: Todd Solberg

DM me and I can get you a name who would most likely be able to do this for you.

@Shelley Wenk connect with a local RE group nm in your area..they know who is lending and the terms. Agree, a local small bank is the way to go. I'm getting 20 % down on new constructions.

@Brian Ploszay The government really isnt good at most things, nor should they be. Government needs to stay in their lane. I dont want them investing in solar panel companies or owning real estate.

When disinvestment of RE occurs and the quality of the units become dilapidated...then a crisis ensues. As Rahm Emanuel said never let a crisis go to waste. Guess who the super hero will be? Yep, government. There is the impetuous for a large power grab.

In addition, this is promoting the corpretocracy that is very apparent in todays society. Its similar to the government "investing" in solar panel mfg. (Solindra)  so if I was really good at real estate investing why wouldn't I just open up a course (aka business) that trains people and take a cut plus fee? The only thing missing that you speak of is a "degree".  Not sure this is much different than jack Welch university...not sure if they take a cut but might be a recruitment tool for companies who need middle and upper mgt. Staff. I like where you are going but would be less headache to just start your own as a degree program.  

You can use your college loan to buy a property..

Could you have them book for 3 weeks at a time and they need to renew frequently? This may not flag as LTR and you can see how well they care for your place. 

I dont base investments on a guideline but may give a place to start looking. It would be interesting to see markets where heavy regulation exists (i.e. Minneapolis) v. Other markets in Minnesota. Assets should be evaluated on ROI and unencumbered cash flow.

Rent seems high at 1675...make sure you see the actual rent deposits before purchase. If they dont have it documented on a  tank statement consider a reduction of price...or if you feel you can get that than go for it!

I'm not sure but making it a homestead may be contradictory to an investment property and could put you at risk.  Talk with a cpa or lawyer on that.  

In addition there are rules around lending and having two primary residences. Example FHA loans. HUD has guidance on this.. here is a basic summary:

https://www.google.com/url?sa=...

@Roger Rosa. See if the numbers work to keep your current home as a rental, use some of the existing equity to purchase a house hack in a neighborhood with future being to turn that one into a rental when you move. Move every 12 months if you can and use FHA loans (3.5% down).