All Forum Posts by: Drew Cameron

@Zack Karp 

The one I was referring to was called truth in equity. It sounded kinda like another smoke and mirrors show with a so called guru. It was sponsored by a bunch of financial shows and had lots of testimonials by people using the strategy, but it just sounded kind of scammy.

I figured if it was worth it someone on BP would be using it with success.

@Christopher Brainard

What I read was talking about paying off a traditional 30 year mortgage in 5 to 7 years. It just sounded way too good to be true. I've heard of other strategies such as biweekly payments or making one extra payment per year can shave off as much as 5 years of the mortgage. 

I don't own a home yet, but am in the market to buy one and am probably just going to buy a cheap fixer upper and live in it for two years then sell after updating for a nice profit.

I recently came across a new strategy that I don't quite understand and it sounds too good to be true. The principal is simple. Use your heloc to pay your mortgage and funnel all your funds in and out of it like a checking account. The interest updates daily so you can pay down principal balance much faster than on a traditional mortgage. With a decreasing principal balance the payments go down each month as you pay it off. Plus you can get rid of other payments by funneling them into your account as well. Has anyone else heard of this? Or has anyone used this successfully?

I recently came across a new strategy that I don't quite understand and it sounds too good to be true. The principal is simple. Use your heloc to pay your mortgage and funnel all your funds in and out of it like a checking account. The interest updates daily so you can pay down principal balance much faster than on a traditional mortgage. With a decreasing principal balance the payments go down each month as you pay it off. Plus you can get rid of other payments by funneling them into your account as well. Has anyone else heard of this? Or has anyone used this successfully?

Think and grow rich by Napoleon hill

Thanks for the advice everyone. I had been thinking about joining the real estate clubs that are available here. I noticed that there are 2 different ones. I have never heard of meetup.com before I'll have to look into that. I've definitely been doing my homework here on BP and reading almost all the books they recommend. I think I'm in analysis paralysis because I've never bought a house before and the idea of losing scares me, but I'll get over it and start making moves.

I'm a newbie to real estate investing in the Phoenix area and was thinking about joining a club to find a mentor and network. Is it worth paying a membership fee and going to monthly meetings or would it be more advantageous to network and get a team then rely in bigger pockets? I called a bandit sign that said real estate investor seeks trainee and went to a meeting. At the end of the meeting they tried to sell me a 20,000 education course and being part of a local team of investors. I had already gone to a than Merrill weekend conference which really sold me on real estate investing just not with his group. After going to this meeting it was comforting to meet with local investors, but they seemed so amateur and weren't really doing a ton of deals. $20,000 I think could be better spent doing deals, but I'm nervous to just start on my own without seeing how experienced investors estimate rehab costs and what to do as far as work when comparing comps. I'm afraid that if I don't get a mentor I'll never do a deal based on my comfort level. Is anyone else in the same boat? Did anyone pay for mentors to start off?

I'm a newbie to real estate investing in the Phoenix area and am looking to start wholesaling. I have recently quit one of my jobs to commit more time to real estate and I am all in for 2016. I have started driving for dollars, but haven't seen too much in my area. I am looking for advice on how to build a buyers list, and how to find deals more efficiently than driving for dollars. Any advice would be greatly appreciated.

thanks for the input everyone. I've been reading everything I can get my hands on from BP, to other blogs, to all the recommended books from BP. I just have no experience and would like to meet others currently doing it before I take the plunge myself. 

I'm a newbie to real estate investing in the Phoenix area and was thinking about joining a club to find a mentor and network. Is it worth paying a membership fee and going to monthly meetings or would it be more advantageous to network and get a team then rely in bigger pockets?