2 door investor in the Richmond area who is looking for help!

2 door investor in the Richmond area who is looking for help!

Billy FarleyPro Member
Real Estate Agent · Detroit, MI · Member since 2021 · 43 posts · 11 votes

Hello Bigger Pockets community, my name is Billy Farley and I have been wanting to become active here for a long time. I currently consider myself a 2 door investor, I have one SFH that is a LTR, and I also have my primary residence that I AirBnB every weekend (unusual HH). Both cashflow very nicely. I am now looking to become a full time real estate investor, problem is that I have little liquidity, but a decent amount of equity. With all this time, I am looking to BRRRR some homes here in the area, will most likely need to be with hard money. I have always been too timid to consider hard money.

I am looking for someone to walk me through the steps so I can make this dream come true. I have a decent amount of resources I can share with anyone who is interested. I am mainly looking for a problem solver here to solve my problem and propelling me into real estate success. 

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  • Lender · Farmington, CT · Member since 2015 · 542 posts · 321 votes
    4y

    @Billy Farley

    i would be happy to walk you through the steps. first one, is to not to be scared of hard money. maybe its the name that scares people?? let me know. happy to help.

  • Julio GonzalezPro Member
    Specialist · West Palm Beach, FL · Member since 2008 · 4k+ posts · 1k+ votes
    4y

    You came to the right place for information, William!  There is a great group of members on here to connect with. 

  • Member since 2020 · 32 posts · 8 votes
    4y

    You should consider joining Richmond RING. There's montly meetings with all sorts of ppl from Richmond, Midlo, Petersburg either offloading properties, or private money lenders. 

    I also have limited liquidity, but decent equity. Have you considered doing a HELOC and using that first before looking at HML?

  • Realtor · Richmond, VA · Member since 2017 · 118 posts · 113 votes
    4y

    How about a HELOC on your primary? Tower Federal Credit Union has a great HELOC with 100% LTV and interest-only payments for 15 years.

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