Today I have Dawn Anastasi on as a guest who also invests in homes that are under 30k. I guess its because we are both in IT, but the numbers just made so much more sense this way, which is why we invested in these working class neighborhoods while everyone else told us to stay away. Please listen to the interview, you will learn about different financing options such as portfolio lenders and peer-to-peer lending options.
25 Comments
ok I have 1,000,001 questions and how and where do I start???
Great interview! You are both so inspiring!
Great interview I enjoyed information.
great interview, doing the same thing here in Baltimore buying properties for $ 10,000
Hi Gabriel! What zipcodes/neighborhoods are you purchasing in, and what are the average rents if you don’t mind sharing?
Inspiring stuff. I’m in IT too (well, software anyway)… so there must be
something to your IT theory š I’ve been brainstorming for a couple months
now about a good niche/strategy for myself–to get into RE investing, and
lightbulbs (and fireworks) went off when I listened to your BP podcast. Not
sure how the Phoenix market looks for sub $30k properties, but you’d better
bet I’m going to start looking. This is definitely the strategy for me. I’d
like to buy my first couple rental properties with my own cash. Subscribed
for sure!
Nice, Bobby! Check out my Leveraged Analysis Technique I use to find these properties. https://www.affordablerealestateinvestments.com/leveraged-analysis-technique/
Fabulous advice. Thanks ladies!
Thank you Douglas, I really love your enthusiasm.
Just subbed great content. look forward to hearing more about sub $30k
properties
Hi Lisa,
Great Interview with Dawn!!. I just purchased my first investment property/home about 4 months ago and I am currently working on my strategy plan for my next property.
Lisa, maybe you can clarify this 4 mortgage rule that was mentioned – you can only have 4 traditional mortgages. From my understanding you can have up to 10 traditional mortgage loans; you need to find a bank that is willing to do the financing. I know with HomePath you can have up to 10 loans with them.
Is the 4 mortgage rule a standard practice or an absolute rule?
Thanks,
CL
Hi Carol,
Most traditional banks with Fannie/Freddie loans will go up to 4 per person, although the Fannie/Freddie limit is 10, banks have their own “overlays” to the rules that limit it to 4. When you use a smaller bank who does their own loans in house (also called portfolio lenders) they will do as many as their in house rules allow.
Dawn
Thanks Dawn. I have already started talking to several banks.
This was a very good video
Thanks for all that you do to help other people
Mark
One clarification – I realized when re-listening to Lisa’s video that I
didn’t answer one of her questions correctly. She asked me if I had
partners on my ventures and I started talking about “deliberately looking
for rental properties” versus being “forced to be a landlord”.
So I want to clarify that:
a) To finish the rental property that was 2 hours away, I had the help of 5
different people, besides hiring contractors. I don’t want to make it out
like I did everything just by myself. These 5 individuals were friends and
family members who gave me time and/or money.
b) Starting with the 2 first rental properties in Milwaukee in June and
December 2011, I partnered up with another individual (Tom) who also helped
me in the first property that was 2 hours away. He contributed both time
and money to these ventures.
Thank you for this video!! It’s so difficult to find scorpions’ songs of
70′ in good quality!!
lisa, the interview with Dawn was amazing – so much information- thank you,
great job! Danny
OMG! so thankful for these information.
I have over 40 grand I can invest in real estate and really want to get my
feet wet. Passive income sounds like what I am looking for. I want to spend
more time doing what I enjoy and would like to make my money work for me.
Any books you would recommend to someone who is looking into purchasing
housing to rent? Love your channel.
Does she use property management?
Thank you Lisa and Dawn for giving your time to this endeavor. You are
helping us tremendously.
You are all spot on. I have “tripled” up on Florida properties over last 3
years and its booming. Beautiful weather, Central Florida (Orlando area
within 50 miles). Homes are $30K with repairs $695-$795 rent. Solid,
decent area. Unfortunately the window has just about closed down here for
that price point. Price appreciation is going to be huge till 2022-2024.
If it bubbles (and I know it will), I’m going to sell everything then.
Wow great content! However where the heck are you guys getting your loans
from? I have a 60k SFH under contract for 15K. I have talked to about 4
private lenders and all of them have told me that they don’t lend under 50K
as a result of the Dodd Frank laws.