All Forum Posts by: Keith N.

Welcome @Sarah Sydney

@Alex Mendoza $20K is plenty to get started. Ofcourse any “good deal” is also going to be perused by dozens of other investors. Just 1) be patient and 2) be ready to take action as fast as possible when you see something you like

@Grant Rothenburger i agree. I’m 27 now and it seems this is the “tipping point” of where most of my friends either have bought a house, are actively trying to, or at least “want” to.

....

Also seems to be the point where most couples are actually “settling down” so that makes sense.

@Joe Prillaman This is very impressive. congrats!

How did you locate this property? Was it on the MLS, purchased from a wholesaler, found it yourself off-market?

Houses in Raleigh have appreciated a lot in the past 3-5 years.  But because the rents have not kept up, it's almost impossible to find a deal that meets the 1% rule anymore.  

"Appreciation makes you rich," but I can't afford to keep buying rental houses here with minimal cash flow, as I can't (quickly and easily) use this appreciation to weather a vacancy/eviction/repair.

@Timothy Casallas Do you know how much cash you would pocket upon selling it?

@John Kim Rate for HELOC from PENFED is prime rate if it's owner occupied or prime + 1 if it's tied to an investment property.

Right now I believe that is 5% and 6% respectively.

@Jonathan Taylor Smith I don't believe we've met sir.  However, I MIGHT go the BP meetup in Cary tomorrow night

@Mary M. I use it as a safety net for my investments. I wouldn't dip into it unless I absolutely had to, or unless I found an amazing deal I couldn't pass up. It gives me confidence to buy more properties with the cash I do have, knowing if anything unexpected happened my HELOC could cover anything.

I will try to remember to attend.  I haven't been to a BP meetup in quite a while :/