Updated over 9 years ago on . Most recent reply
New investor - Raleigh, Triangle, Triad North Carolina
Hello BP friends,
Great site.. I love it so far :). Sorry for the long email but I feel putting one-liner general email is not very helpful to me or other here.
| About me | Newbie investor in RTP/Raleigh, North Carolina area. I have purchased my first property towards end of last year. It's an end unit town home. |
| Real Estate Goals | Build my real estate portfolio: 1. Buy-hold-rent properties (Expand from current Single townhome unit to multi family units) 2. Wholesaling business 3. Build local and regional portfolio and then expand outwards |
| First investment | Comfortable with the 'Buy-hold-rent', cash-flow approach. First property is in the books. |
| What am I doing now | Attending couple of 'free' sessions locally but BP site is just crazy good and flood of information that will keep me busy for a few days. I have just joined local REI club (Triangle Real Estate Investors Association). Will start joining their sessions |
| Upcoming focus | Upcoming focus |
| LLC formation | I put my first property in my personal name, however reading through forum here, looks like LLC is better approach to protect my personal assets, also keeping future expansion in mind |
| Financing | I may have put little more than needed (25%) in first property so am a little tight on new cash reserves. Looking for recommendations on how to generate cash for downpayment for next properties 1. I have a primary home (currently have close to $160K in equity). Is HELOC worth the risk? 2. First investment property (60% outstanding mortage - $70K in equity) 3. Roth IRA investments funds |
| Networking | Other than local REI club, what are other venues to network and build local network? |