All Forum Posts by: Chris Reynolds

@Ivan Loza Have you ever considered house hacking a multifamily? Easily qualify for a FHA loan, get out of the parents house and have your mortgage paid........ You have the down payment for a relatively nice triplex or quadplex, plus it should help prepare you for your multifamily goal. After you could pool all your properties together for leverage.

You should come to my meet up in Frisco I am trying to get off the ground. Have a beer and chat.

Hello all. I need a little advise on the the amount I am getting approved for on a HELOC. My home value is $290,000 and I owe $187,000. These numbers are rounded but are close enough to get accurate value. Below is a quote from the lender...

"In looking at the value of your property the tax value will only get you $26,000; therefore, we will need to get an appraisal to get you a bigger line of credit. I looked at Zillow.com to see what the market value might support. Zillow shows $289,000 which would provide a line of $54,000. An appraisal fee will be about $500 and there would be no other closing costs associated with the loan. The appraisal could come in higher or lower than the Zillow amount, but usually within $10K of that figure. The appraiser will look at the last 6 months of sales in the area to determine market value."

They also stated that I would not qualify myself due to insufficient income. Is it normal for them to look at my income when they know the money is going to be used for investment purposes? Something seems off about this and I just can't put my finger on it. This is also my first leap towards "getting it done" and this might be normal operating procedure. What do you guys think? 

This event is to cater to the ones that live in North DFW and can't make it to other meetups across the metroplex. Come out and network with others with all experience levels. This is a casual atmosphere so come as you are, relax and have a drink. See everyone there! 

Maria, 

Typically we meet every Tuesday. There are a few exceptions as I am putting this on myself. 

Yancy, 

Absolutely newbie friendly! The event is just starting out and has a more hangout and mingle atmosphere. 

Thanks Micah, the event has been going on for a few weeks now, hopefully it will gain some traction as the weeks progress. 

Hello everyone! This event is to cater to the ones of us that live in the North DFW area and cant make it to the other Dallas area meetups. Come out and network with other investors or all experience levels. Other REI professionals are welcome and encouraged to attend as well.

Hello Everyone! This event is to cater to the ones that live in the northern part of the metroplex and can't to the other meetups during the week. There is no schedule or timeline to stick to. Come out and network with all experience level investors. 

Sure! Every Tuesday, at 6 pm, we meet at The Tavern on the Square in Frisco. This is a casual setting to for everyone of all experience levels to learn and network. 

Hello Everyone! This event is to cater to the ones that live in the northern part of the metroplex and can't to the other meetups during the week. There is no schedule or timeline to stick to. Come out and network with all experience level investors. 

Hello everyone! This event is to cater to the ones of us that live in the northern part of the mertoplex and can't get to the other meetups during the week. There is no schedule or timeline to stick to. Come out and network with all experience level investors. Don't forget to tip your waitstaff!