All Forum Posts by: Ty Coutts

@Andrew McGuire

Furnished Finder is definitely more leaning towards you having to reach out to tenant leads.

That being said, you can have CRMs or AI integrations automatically reply to all the leads that come in since most have their email and phone number attached to their inquiry.

For instance I use Follow Up Boss to automatically recognize a FF lead come in and automatically send out a basic template reply about my property and asking for them to call or text with questions or find a time to connect on a call. This has reduced a lot of my time commitment towards the platform and increased a lot of occupancy since I seem so responsive to the leads coming in

Hello @Benjamin Sulka!

Great question! If you are leaving your primary home to buy another primary home and you want to leave that property as a rental, then you can absolutely offset that liability with future rent income.

The conventional financing way to get this done would be to either have a 12 month lease in place and a deposit for 2 months rent or simply pay to get a 1007 rent schedule appraisal done that can give the lender the assumed rent amount for that property.

Please note that if you have a rent estimate of $10,000 a month and your mortgage is $2,000 a month you won’t be able to count additional income, you can just offset that full mortgage liability.

I hope that helps! Please reach out if you want help running rent estimates compared to mortgage costs!

@Hunter Broschinsky

Very great question! I’ve often contemplated this same exact question myself as I also plan to buy one property a year for the foreseeable future.

For me personally since I’m already a licensed loan officer, it came down to a simple time management and return on investment question. For me, I noticed that focusing on my lane and expertise led to more profitable use of my time. If I spend X amount of time not just getting licensed as a real estate agent, but also the time per deal to draft contracts and negotiate terms, and it saved me Z amount of money.. then does Z divided by X equate to what I could make per hour if I just focused on helping people qualify for loans? And for me the answer was just let experts be experts on their craft and stick to where my time is best spent.

But this could be completely different for you so I encourage you to break down the math a bit and see if it makes sense!!

@Andrew McGuire Love the insight and the willingness on your end to share your personal insight and numbers!

My wife’s entire family is from Chandler and we have actively looked to invest there ourselves but certainly have clients there doing short term and medium term rentals.

From their experiences and also my own here in Colorado, it seems like medium term traveling nurses have been super steady throughout this year and very low maintenance and respectful tenants. Plus I love the fact that over 30 day rent avoids a lot of different short term county restrictions!

Do you ever rent to traveling nurses through furnished finder by chance?

Just looking for some great conversation and meeting new friends at our 4th RE Connect meetup. We of course talk real estate/finances and help give advice and lessons learned from our personal endeavors, but we aim to grow a bit deeper and get to know everyone on a personal level. All ships rise with a growing tide, so we aim to inspire, motivate and help keep each other accountable as we all seek out our personal goals.

I love this @Ben Einspahr!

I am house hacking, bought 2 single family primary homes in 9 months in Colorado, both with separate entrance basements and full kitchens down there (so essentially duplexes). All of these points certainly hit home with me and couldn't agree more.

Would love to get contacts from you on who you use for your lawncare, currently doing this myself and the mass amounts of rain has made keeping up with the weeds much more of a nuisance than I wanted in my life haha

Also would love to connect about all the nuisances within this and what you have faced and experienced because it seems like not only are we on the same path, but I also have tons of clients here in CO and all over the country that I am helping guide/mentor on their house hacking journey's and obviously helping with the financing side of that.
 

Hello @Joshua Lurz!

I was born and raised in Colorado Springs! Very interested in where this property is as it sounds like an amazing deal for you! 

First off, there are many, many of investors I work with that can do DSCR's for much less than 30% down. Usually 20% but I even have one or two that can go down to 15%. Also we could look at potentially doing more of a fix&flip project that can wrap construction fees into the loan. Higher upfront rates, but no seasoning period on the cashout refi side once you finish the work and get some leases in place.

Would love to help you find the creative path to help you make this dream a reality! I'll message you right now so we can get into the details a bit!

Hello @Estefania Navas!

Congrats on being ready to take the plunge into real estate investment! It is certainly an incredibly vast world so I would love to help point you in the right direction of people I know in the Houston area that have helped a ton of clients of mine. 

Feel free to call/text/message me directly on here at anytime so we can get to know each other a bit and I can find out exactly what ways I can help and exactly what type of projects you're looking for!

I highly suggest @Mike Cossette too for literally anything real estate related happening in Texas!

Hello @Joshua Wuelfing,

I have helped a lot of my clients with their STR's in Jacksonville! I can certainly reach out and find out who they are using for management as well. Do you have any specific questions that they or myself could help answer?

I'll reach out separately right now as well so we can chat in more detail

Hello @Tanner Stallings!

Sadly, there are almost no 10% down financing options out there for investment properties anymore. However, there are some creatives ways in which you can purchase a "second residence" with a 10% down conventional loan. I have helped several of my clients do this but there are certainly some nuances to cover, so feel free to call or message me directly and I would love to chat about all the details.

Also, we finally just last week had one of our DSCR investors come out with a 15% program again which is amazing as I know not many are out there right now.

Best of luck finding ways to use other peoples money and building your portfolio!!