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All Forum Posts by: Derek Kirkman

Derek Kirkman has started 2 posts and replied 2 times.

Post: Hello from Lakeland, Florida!

Derek KirkmanPosted
  • Lakeland, FL
  • Posts 2
  • Votes 1

Brand new here. Given that everyone is working on their financial/investment strategies, thank you for paying it forward and providing so many resources to help new folks get started. Just reading through these posts reveals a great community of helpful people, and it's awesome to see a community that is so helpful.

All the best!

Post: A few questions about Financing Deals

Derek KirkmanPosted
  • Lakeland, FL
  • Posts 2
  • Votes 1

First post, and I am completely new to real estate investing. I'm diligently studying and working towards starting to invest. In considering initial sources of funding to start, I have 3 options, initially:

1. Converting IRA's to Self directed. Has anyone done this and would you recommend it to inexperienced/first time investors?

2. HELOC from the equity in my current home. If I went this route, would the goal be to try to purchase the entire property with the line of credit or simply use it as the down, and obtain additional financing attempting to ensure that the property would service all of the debt and still generate a positive cashflow?

3. A partner who will match what I put in; however, my part would come from either of the 2 mentioned above.

Thanks in advance for any replies.