Sneaky rental: we bought the first property under my name and the next property under my spouses name. You do need to be able to qualify individually and have reserves for the vacancy
@JasonSeegmiller
2 ай бұрын
I was going to get on and say this same thing. This is how families do it: DON'T CO-SIGN
@aaronsmalley1323
Ай бұрын
On single income, and joint accounts.. can this still work?
@vmrosales3
Ай бұрын
@@aaronsmalley1323 that is how we did it. More work for the underwriter but it can be done
@d_wandering_wonderer
2 ай бұрын
I want to get started on building my portfolio. My question is: I owe 100K on my home where I live with my family. If I have 100k saved up. Is it better I pay off my home first OR use it to buy my first rental property?
@sarahatch6954
3 ай бұрын
David move to Knoxville!! Everyone from California is moving here so you should too! Plus only 1 hour away from your STRs in the Smokies! Also, if you have any cabins you're looking to sell, hit me up 👀 I love the banter between you and Rob! Y'all are my fav and we need more podcasts from you two. I get sad when I play the newest episode and I don't hear y'all's voices 🥺
@TJ-th9hw
2 ай бұрын
Awesome “Seeing Green” as always! Very informative! Thanks for sharing your experiences with the BP community. 👍🏽👍🏽
@sergiolauramaldonado3098
2 ай бұрын
We hire someone overseas which happens to be family member and it’s working for us! We have a handful of properties and were getting pretty hard for us to do it ourselves on top of our full time job.
@planning1017
3 ай бұрын
Great questions this episode !
@SuperPascal1988
3 ай бұрын
The "STUPID " part was my favorite one 😂😂
@helloromie
3 ай бұрын
"Live like no one else, so later, you can live like no one else." Dave Ramsey :)
@ih458
3 ай бұрын
I would be down to watch Bigger Pockets LIVE in Houston!
@dustovshio
3 ай бұрын
For FHA you can only have 1 unless you have documented job change. for 5% conventional you need to make below the median income so likely you wont be able to repeat the process he described beyond a couple properties. However there are 10% second home loans and 15% down investment loans.
@OpusXcigars
3 ай бұрын
Great show fellas
@dansellssoflo
2 ай бұрын
Is taking a home equity line of credit (HELOC) to pay off credit cards a smart move compared to a home equity loan? I thought HELOCs are designed for short-term borrowing. I guess it depends on how much debt you have?.
@bikenraider99
3 ай бұрын
Don't forget a home generator if you are investing in Htown. Also, I fully support you taking Aggie's money.
@ClarisNdoroRealEstate
3 ай бұрын
I'm always looking for this morning's show.
@candicephillips6536
2 ай бұрын
Should he target multi-family in this case? Would the income from the multi-family help him qualify?
@seanscheng
3 ай бұрын
You guys have gotten really really good with this format… Complementary dialogue and humor all on point
@kerrybaird5641
Ай бұрын
Too bad BP didn’t read your response. I agree with you.
@DavidGreene24
Ай бұрын
Thanks sean!
@marylouisone
2 ай бұрын
Who is managing your coliving in Texas ?
@gregorylewis9442
3 ай бұрын
WOW ROB! Tell us more how the city of Houston was going to take down your 🏠 house😮! There's Soo many stories of problems with real estate, people hesitate on just dealing with Tenants, Toilets, and everything associated with overhead to eat into your profits. Even neighbors over easement of property lines wanting to use you. America has to be the LAWSUIT CAPITAL?😲🤔
@johnstarks5323
2 ай бұрын
7:45 Live like no one else, to you can live like no one else
@chriswb7
2 ай бұрын
I don’t think this is a good market to be overextending yourself in rentals. At least in Florida - rents have gone insane. Evictions are up, vacancies are up. If you come in at record high prices and the tenants aren’t there at the prices you want - you’re just going to have sell it or accept a paper thin margin. I’d wait for the housing market to stabilize or pull back to where locals can afford to rent…
@Lovcavs
3 ай бұрын
When you refinance, where does the money go if you have equity on the house?
@cjusino85
3 ай бұрын
You receive it as a cash out refinance
@esahic1988
Ай бұрын
Sneaky 😈- During Covid I purchase a PR with 3% down, rented it 2 months later got pre-approved for another PR with 5% down, also rented. This year I purchased another PR with 5% down.
@matthewgirard8164
3 ай бұрын
Funny thing is i just went through this. bought my house in 2010 on the LOW. Lived in it all these years and started my family. Been trying to buy another house. Wife is a Broker/Prop manager and had a SIGNED lease on the first house with Deposit ECT and lender still said nope. Had to jump through numerous hoops and eventually made it work. Good luck to all!
@robertowhyte2836
2 ай бұрын
How did you make it work? I’m trying to do the same
@LasVegasCollectibles
3 ай бұрын
Pimping out your book keeper...check. add that to my to do list lol
@susanhotchkiss1395
3 ай бұрын
Wouldn’t it be better to live in the house for two years instead of one in order to avoid capital gains tax?
@abclawnworks9127
3 ай бұрын
Isn’t capital gains only if you sell?
@cjusino85
3 ай бұрын
It's only if you sell
@ericturner9470
2 ай бұрын
That is a good idea.
@lucyrodriguez7333
2 ай бұрын
I live in Houston
@crownsofseven0281
3 ай бұрын
Any estate planning lawyers in Houston Texas
@lucyrodriguez7333
2 ай бұрын
I want to work with you
@LasVegasCollectibles
3 ай бұрын
1st lien heloc is my favorite for debt consolidation
@staycoolwithrob
2 ай бұрын
I do ac work its sad you had to pay 20 gs or more for a 3000 dollar unit😂
@LuisPerez-rc6od
2 ай бұрын
Did he say houston Tx has a very handsome man? Must be talking about me
@SwayzeeSoul
3 ай бұрын
Just dont do it. Pay off your debt and be a responsible adult.
@gregorylewis9442
3 ай бұрын
Come on you millionaire can afford Home Depot and I'm sure everything is a tax write off and you get cash back and points depending on what credit 💳 cards are used.🙏🤩
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