All Forum Posts by: Wendy Harden

 Do you have any sources or recommendations on coaches/mentors?

@James Free  I went through Midwest Equity Mortgage

I just finished on a cash out refi on a CA rental: 3.625%, 2 points, 30 years, 75% LTV

You can go to Zillow to see what houses in the neighborhood/zip code are currently asking for rent prices.  They also have info about how many contacts each property has had, how many days it's been listed for rent, and how many applications have been submitted (if they accept them directly through Zillow).  This info is good if you're narrowing down your criteria.

Wendy

I'm fortunate to have a pile of cash, plenty of reserves, good credit, and only a mortgage on my DTI. I have enough resources to fully fund a purchase & rehab using the BRRRR strategy. But I struggle with getting solid guidance about whether this is the best path to take or whether I should just put down 20% on 4 or 5 properties out of the gate. I'm looking to buy out of state so I'm hesitant to do a large rehab from a distance.

Doing a BRRRR will tie up my money for several months as the market continues to be hot. If I buy several rentals right away, I can funnel the cash flow and my personal monthly savings into 3-4 additional properties per year. BRRRRing could actually slow down my progress but maybe I'm too ignorant to see the big picture. I am working with an agent but haven't gotten any specific advise from them and am not sure they are the right fit. I don't know which path to take. I don't feel confident in my knowledge to make the right decision yet but I'm frustrated that my money isn't working for me while I waffle back and forth. Once I have a direction I'm all in.

Depending on how often they need to meet up in person, I can see a portion of them moving to more affordable (and more family friendly) Northern California cities:  Roseville, El Dorado Hills, Folsom, Lincoln, Granite Bay, Auburn, etc.  This would put them within 2 hours of headquarters but still living the California dream.  Most of my newer neighbors in this area have relocated from the Bay Area or So Cal citing slower pace of life, a desire for family-centric neighborhoods, and their housing dollars stretching much further.