All Forum Posts by: Andrew Adame

 Primary, going to turn my current primary into a rental

 Can I get a copy?

Hey BP,

I am looking for some guidance on how to find a agent that specializes/has experience representing buyers with new construction SFR's.

I have talked to a couple realtors and they tell me "yea I've done a bunch" but they have not been able to give specific examples of what they negotiated on the buyers behalf.

Thanks

Sorry for the confusion, My appraisal will be around 700k, 80% LTV would be 340k max I could get

In the final stages of narrowing down a bank to open a HELOC with for creative financing, looking for advice on the amount

I have heard “get the max”, which would be 80%/340k from most banks @ Prime+ .50-1%

 however

2 banks I have spoken to have NO margin or only a .25% margin on the rate BUT a max amount of 250k

So my question is, is it more valuable for me as a brand new investor to pursue the max or take a lower amount with more favorable terms? One lender I spoke to said I should never be looking to use more than 250k as it could get me into trouble

I live in California but will more than likely invest out of state due to the HCOL, at least initially.

Thank you

Amanda,

Who did you use for your HELOC?
 

 Mark, did you ever get an answer to this?

 Jennifer,

Did you ever move forward with this?

Hey BP!

I have been lurking here for a bit but am now getting serious about starting my REI journey. I am in the process of educating myself with books by Turner and Greene, the podcast, this forum and the BP facebook group.

A little about myself I was born in San Jose CA, raised in Fremont CA and currently live in/own my home in Manteca CA. I am married and have 2 beautiful young girls 8/5, and a 2 y/o GSD named Rosko. I am a Firefighter at a large department in the SF Bay Area, and previously was a Paramedic on an ambulance in Alameda County. I come from a close knit family, and am first generation born here in the US. 

My goal is to achieve financial freedom through rental properties, and my “why” is so I can spend more time traveling and making memories with my family, as well as set my wife and kids up in the event something happens to me as I am the sole provider (in addition to life insurance).

I feel like we are in a good position, we bought our home towards the end of the recession in 2012 and have a generous amount of equity. We are financially stable with the only debt being our house and 1 vehicle loan. Although I am still trying to figure out what my plan will be, I have shifted my mindset from “I can’t” to “How can I” and am excited to be a part of this community and learn from you all!

-Andrew