All Forum Posts by: Bernice Monroe

@Mike Peterson How is that a silly question???It will take much longer to save for a down payment than it would to refinance or to apply for a HELOC. I'm thinking of time frame.Your actually right about a good interest rate w VA but as far as having to wait years just to save.....Are you against it?

Is there any investors here from SWFL???I have been looking and just want some close investors to converse with.

@Kyle J. Yea thats why I said I'm going to hold off until I get more equity in my home.

Thank you.I actually thought about a HELOC but heard nightmare stories about them.I do know that if I let all of the horror stories scare me away then I'll never get to where I need to me. My plan is to put more equity in on my house first before I decide on anything. @Jody Sperling

Can someone help me understand Cash out refinance???If the ARV on my home is $178000 and I've paid my VA loan to $157800 would I have enough equity in to Refi and if I do,would it be worth it?I know I have to get an appraisal and have closing cost but im not sure how it works.Im just starting to read up on it.I kind of understand a HELOC but is not really grasping COR.Im trying to do the BRRRR strategy but with my own home which I will eventually rent out. If I were to cash out is the money that I pull out added to the $157800 or how does that work???

@Brian Ellis Congratulations on having the courage to do whats going to make you happy in the long run.And for having an open mind when it comes to the trials and tribulations that owning real estate will eventually take you through.Im actually in the same situation you just freed yourself from.I just haven't had the courage to leave my security as of yet.Hopefully that will happen for me soon.I wish you all the happiness in your new career

I see the breakdown of your potential investment. Im just confused as to what does cash needed mean. Is this the money you need to provide the down payment and other things in order to get the loan??? 

Thanks.This has really helped me alot. @Andy Eakes Congratulations on your success of your newest property

@Andy Eakes Thank you so much for your response.I really do have to look into alot of things and figure this out. I have just been feeling lost and feeling like Im not getting anywhere

Good evening to all,I am a female from SW Florida and I am writing this post in hopes to maybe get some insight to continue on my road to financial freedom.I have been wanting to rent houses ever since I was a teenager but never felt that I had the knowledge or money to do so.Now that I have been researching and feel that I have some clue of where I am I feel as if Ive hit a wall.A financial wall. I have money set aside some funds and know some means as to getting more but am not sure what route I should take. Ive been reading on hard money lenders,private lenders,FHA loans,etc but is stuck at this fork in the road.Im not sure if I should quit my job and move where the cost of of living is cheaper or if I should start here.Can someone please give some kind of insight?