All Forum Posts by: James Fischer

I'm wanting to form an LLC to begin purchasing SFH's to then BRRRR. My plan is to show my W2 earnings to obtain a line of credit from a bank to then purchase properties with cash then move through the BRRRR process to eventually refinance.

Does this plan make sense or seem reasonable?

Does the bank I obtain an LOC from have to be in the same geographic area as where I plan to invest -or- can I obtain a LOC from a bank near me although I plan to invest out of state?

I'm wanting to form an LLC to begin purchasing SFH's to then BRRRR. My plan is to show my W2 earnings to obtain a line of credit from a bank to then purchase properties with cash then move through the BRRRR process to eventually refinance.

Does this plan make sense or seem reasonable?

Does the bank I obtain an LOC from have to be in the same geographic area as where I plan to invest -or- can I obtain a LOC from a bank near me although I plan to invest out of state?

Hey all - 

I have a home that's been on the market for about 6 months now and there has been no movement on it despite price drops to a point that I don't want to drop further. I am living in my now primary residence while this other home is just sitting. I'm new to the real estate and rental space but am considering putting the house for rent to see if there are any takers with that route instead. I would be losing about $300-400/mo by renting it out but this would at least take away a little of the pain of two mortgages until I can re-attempt selling it at a more prime time. I'm just trying to toss around pros/cons as to whether this is a way (although not great) of getting into the rental game or is it best to just wait it out longer for a potential sale.

Hey there BP! My name is James Fischer and I am in Fort Worth, TX. I am brand new to the REI and BP world and can't get enough. I literally have zero investments but am most interested in getting into buy & hold single family and/or multi-family homes within the next 6-9 months. I am looking for long-term opportunities that will one day allow me to step away from the "9 to 5" job. I look forward to learning a ton and meeting some great folks along the way!