All Forum Posts by: Eric Merhar

@Dedric Polite I put your @ name in my response on mobile and apparently it doesn't have that functionality. Sorry about that! I'm looking for SFH's, buy and hold using the BRRRR strategy.

Thanks!

Eric

@Neil K. well, I suppose it depends on whether or not the deal meets my criteria!  I'm fully funded, so will be ready to pull the trigger as soon as the right deal comes my way.

Definitely up for grabbing a pint, I'll be in town April 18-20 and am working on shoring up my schedule.  Let me know your availability and we'll connect.

Cheers,

Eric

@Dedric Polite single family for buy and hold using the BRRRR strategy. Thanks for asking!

@Samuel Collier Thank you!  Looking forward to my visit

@Andrew Kerr I'm very excited about the area and ready to explore.  Definitely a craft beer fan, and will check out Red Oak, thanks for the tip!

I'm all set to start my investment portfolio in the awesome city of Greensboro, NC.  Why Greensboro when I'm from Everett, WA?  Well, my employer owns a company there, and I'm excited about the cost of living in the area and might eventually move to NC.

That said, my main goal is to meet with other investors in the area.  I have loads of questions and am very excited about the area and getting started.

Cheers,

Eric

I'm using equity in my house to pay for the down payment on my first deal.  Two options are available, and I'd like to get feedback on the pros and cons for each!

Scenario #1: 40-year interest only loan that results in $48k cash in hand.  New mortgage payment of $2060/mo.  Can refi anytime for little to no money

Scenaro #2: Standard HELOC for $60k at about 5% interest rate. Mortgage stays the same ($2600/mo)

From what the loan officer was saying, the HELOC (scenario 2) could cause me issues due to income. Not sure if that's necessarily the case: I have excellent credit, only debt is my mortgage (no car payment, no revolving CC debt, nothing) and my wife and I combined make well over six figures. What would you choose and why??

Thanks for the suggestion! I'll check it out soon.

Hello! Just getting into the real estate game, and looking to connect with like-minded people locally. I'm specifically interested in finding a property manager with multi unit experience. Local contractors that cater to investors are a plus too. Please let me know if you are interested in meeting up or know of someone who fits the bill. If there already standing meet ups, I'd love to hear about those too. Thanks! Eric