All Forum Posts by: Austin Cade

Hello to all. I’m active duty military and I’m about to enter my shore duty. I want to flip a property while I am here. I reside in the Hampton road areas of Virginia and I would really like a mentor to help baby step walk me through the process.

Are you still interested? I can help you and walk you through the steps.

0 Votes

Norfolk, Virginia

Quote from @Connor Ryan:

My firm will do 70% on an investment property as long as its a SFH, Condo, or Townhome. Most lenders wont even offer a HELOC on a investment property much less go 100% LTV.

I owe roughly 245,000 and the property is worth roughly 345,000. Can you message me and we can talk?

0 Votes

Quote from @Jay Hurst:

Quote from @Austin Cade:

Please help me find a bank, credit union, etc that will let me use 100% of my equity on an investment property for an interest only HELOC. A lot of lenders will only let you do it if it's your primary residence and i'm trying to avoid that. HELP!!!!

You simply will not find that product.

What about 80% on an investment property?

0 Votes

Quote from @Rick Albert:

It is all dependent on the numbers.

If you are planning on putting low money down, the odds of it cash flowing (or even breaking even) in the first year would be difficult.

It would only work if you add a lot of value.

I also wouldn't wait for rates to drop. The problem is everyone else is in the same mentality, therefore if rates drop more, then competition rises, and so do prices (think 2021 but not as intense).

Versus buying now, and when rates drop, you refinance. That way you also would have a lower loan balance (because each month you have been paying down the loan) and there may be some appreciation. This COULD result in removing your private mortgage insurance.

Absolutely agree with this. As one of my mentors says, “there is always a reason NOT to do something and if you focus on that you’ll never do it.” Go get that duplex. Any property at a good price based on comps is a good property. Who cares about the interest rate. If done right that property will make you way more money then you’ll spend in interest. I’ve owned properties with a 2.75% interest rate and properties with a 6% interest rate. You can always make money.

1 Vote

Boston, Massachusetts

Windows preferably over mac template. But either will work! Getting everything set up and researching as well as connecting with great contractors and mentors to get ready for my first flip. Just waiting on one of my houses to sell. Just want to make sure I have every tool I could possibly need!!

1 Vote

Chesapeake, Virginia

Quote from @Cam Schwartz:

Hi @Simone Nicholas. We have a very simple proprietary profit/cost calculator for fix and flips. See below example deal and associated data points.

Happy to share a copy!

Id love a copy as well! This is awesome!

1 Vote

Richmond, Virginia

All Forum Posts by: Austin Cade

Austin Cade has started 2 posts and replied 7 times.

Post: Never Flipped Before

Post: Interest only HELOC on investment properties that let you use 100% of your equity

Post: Interest only HELOC on investment properties that let you use 100% of your equity

Post: Interest only HELOC on investment properties that let you use 100% of your equity

Post: Duplex House Hack with Partner (Recent College Grads)

Post: Fix And Flip Cost Template

Post: FIX and Flip Cost Template