All Forum Posts by: Wayne Brown

@Karl B. Interesting. I know not to trust them with meeting any deadlines. The rates are so much better than any other lender I have found so I'll wait it out for a refi. My rate has fluctuated between 2.75% - 3% on 30 year investment property refi cash out.

@Karl B. Wow. Yes, Karl they're extremely slow. I will suggest be patient with yourself but email your contacts there every single day. I feel like I started to get replies again from simply being the squeaky wheel. Things are now moving on my end and I'm scheduled to close with a notary on Thursday. There was about a week gap of no responses from agent until I heard from loan processor and escrow company (Service Link). I'm about 3 months in working on this refinance.

@Kayla Ahsing OK. Good to know! They have incredible rates. My refi cashout had been moving very slowly through underwriting but now they are ready to close.

Does anyone have experience using Amerisave Mortgage as lender? If so, was it successful or unsuccessful? 

@Mason Adelman Rich Dad Poor Dad, Set For Life Scott Trench and Rental property investing by Brandon Turner. Buy a property and develop some confidence in what you are doing. After 1 year of ownership then read BRRRR by David Greene. In that order. Recipe for success.

JUST DO IT ✔

@Ahmed Seck I haven't done it myself. I manage a residential community full time and noticed many people rent a 2 and den apartment with a roommate. They then airbnb the den. I think the roommate is enough to provide consistency and the Airbnb income for den is just pure profits.

@Ryan Hazelwood 34, 2 rentals, single family houses.

@Ahmed Seck I've been looking for a traditional 2-4 unit for 2+ years. Very hard to come by in our area. If I did not have children I would absolutely just rent out rooms. What I've noticed is very profitable in my particular area(Arlington) is to rent out the 2nd bedroom and Airbnb the 3rd room. Good luck!

@Gregory Cudzilo My properties are in Maryland for that very reason. I believe condos are the only opportunity in our direct area but I see first hand at work just how transient the area truly is. Constant turnover cost could ruin the profits.

@Gregory Cudzilo Welcome! I am also fairly new to buy and hold investing and located in Alexandria. I've managed residential communities in our area for the past 11 years so I could give you info for good contractors in the area when in need.