All Forum Posts by: Diane Rinnix

Hi my name is Herman. My wife Diane is an agent. If you need for someone to set up a system to send potential properties that are on the MLS let us know. If I was you I would look at Pageland SC.

Hi Diane and I are investors in Monroe. Diane is an agent with Call It Closed Realty. She could probably help you look for places in Charlotte. She may help in other areas as well, just not wanting to drive all over the state.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $36,500
Cash invested: $15,800

3 bed 2 bath

What made you interested in investing in this type of deal?

Trying to achieve financial freedom and leave wealth for future generation

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

Credit Union

How did you add value to the deal?

Closed off unneeded doors, painted and drywall.

Hey, we started in our mid 50'6. We have obtained 2 rentals, house hacking part of our home, and just completed our 2nd flip.

Hi Akela, My husband and I are sort of new to RE Investing as well. We are learning every day. We just brought our second property in Dec 2018, and it is rented out, waiting the 6 months and plans to refi, and about two weeks ago closed on another property and planning to fix and flip that property in Wadesboro NC. We have been considering starting at a group in Monore NC. I would love to get together. We are willing to share whatever information we have learned and open and eagerly seeking new information. If you or anyone is interested in connecting with us on this journey, contact me directly. Sending you blessing and much success in your new endeavor. Diane

Thank Nicholas!  we will look for a mortgage broker with the program you mention in our area. 

Good day, We are in the process of purchasing a property for a flip in cash. The question I have if we decide to do the BRRR method does one of us have to have a w2 income?

My husband and I are new to real estate investing. We've had one rental house for 4 year and after listening to bigger pocket we are doing a cashout Refi on it in 2 days and we will get $43,000, currently bought another rental property last month and my husband is fixing it up and should be able to rent by Feb 1st and then plan to do another cash out refi. We are saving about $4,000 a month from my W2 job that I can't wait to leave. We have worked hard over the last 3 years to get our expenses down to about $2,500 per month, and we have no debt except for mortgages. Here are my questions.

1. What should we do with the $45,000? There is a SF property we can get for $30,000 cash but would require about $20,000 in repairs- should appraisal for around $70,000, but would leave us with no more money for other deals.

2. The property that we bought in December with a loan, how long do we have to wait to do a cashout Refi? We brought it for $36,500, and it should appraise for about $80,000.

3. Should we look into doing Multifamily?

4. Keep the cash and use a bank loan on the next property?

5. We have a signature personal loan through our credit union for $60,000 but it at 10.75%. And to be quite honesty little nervous about using it because of the high-interest rate?

Any thoughts would be appreciated!

I understand now. Thank you.

Thanks Mark for your reply , why should we not sell it to wholesaler? I am in learning mode here and have many blind spots to overcome.