All Forum Posts by: Corey Patterson

I'm looking for someone to come appraise my house so I can pull out the equity. Specifically, I'm looking for someone that I can talk to and ask questions about what changes I can make to the property to increase it's value.

Thanks guys.

Thanks for the responses guys.

@Account Closed no, the house isn't paid off. I have about five years of payments on it and it has increased by around 40% since it's purchase.

@Albert Bui This is a pretty newbie question, but is there any way I can use another bank, maybe local or national, to loan against some or all of the equity I have in the house?

My plan to use a HELOC for a down payment on a new property fell through today. I originally got my mortgage through Lending Tree, and it has since been sold to a different company, so today when I called about the line of credit they told me that they don't do business with people in Arizona.

Can I use another bank to pull this little bit of equity from my house? What are some other options to get a down payment together rather quickly?

Thanks

It's possible. I'm planning to use a heloc loan for my down payment on an investment property. The downside is that I'll have my house payment, heloc payment, and investment payment. But it is definitely doable.

Perfect, thank you both.

Hey guys. It looks like getting my real estate license would be a great idea and would essentially pay for itself after the purchase of the first property or two. I've been spending time looking at schools to take the required 90 hours in, but I really know nothing about them.

Does anyone have any recommendations?

Thanks, Corey

Couldn't have said it better myself. You have substantial wiggle room on the offer and only going down 5,000 is nothing. Lowball them and see if they come back with another offer. If you miss out on the deal, no harm done--there are always more investments to be made.

Pretty solid numbers, buddy. Way to go!

Haha, they have enough to keep a simple mind like mine entertained. I was dreading starting a podcast at midnight, while driving, about real estate, but it was great.

Hey everyone, my name is Corey Patterson from Phoenix, Arizona. I found the BP Podcast on the 12 hour overnight (8pm-8am!) drive from Phoenix, AZ to Pleasonton, CA. I fell in love with the charisma of the hosts and all the useful information of the guests, so I listened to about 8 of them straight through while the wife slept. As soon as we hit a hotel I jumped on my cell phone and signed up on the website.

I'm pretty new to being a landlord. I bought a house in 2009, right after the market crash, lived it in for a few years and then moved out into a rental. The rental was in a better neighborhood and the rent was cheaper than my mortgage! I found some great tenants and am actually able to pay my rent with what I charge them over my mortgage.

Now I'm hooked. I have plenty of questions for you all.

Owning my own home has reignited my interest in fixing up the house--when I was younger I would always help my grandmother with her house. So my skills have definitely improved and I believe I can fix most any problem from drywall, to laying pavers, to flooring, etc. Now I need to learn the business aspect of buying properties, investing in repairs, and renting them out.

I look forward to meeting you all someday.

Corey