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All Forum Posts by: James Treby

James Treby has started 6 posts and replied 20 times.

Post: Buy/Rehab/Refi with notes?

James TrebyPosted
  • Municipal Bond Broker
  • Tenafly, NJ
  • Posts 20
  • Votes 3

i like your strategy.  I am trying to do the exact same thing. 

Post: Advice on the best way to pull money out of my house.

James TrebyPosted
  • Municipal Bond Broker
  • Tenafly, NJ
  • Posts 20
  • Votes 3

gotcha I figured it was something like that. Thanks for the info. 

Post: Advice on possibly pulling money out of my home to go buy another

James TrebyPosted
  • Municipal Bond Broker
  • Tenafly, NJ
  • Posts 20
  • Votes 3

I appreciate the advice

Post: Advice on the best way to pull money out of my house.

James TrebyPosted
  • Municipal Bond Broker
  • Tenafly, NJ
  • Posts 20
  • Votes 3
Originally posted by @Joe Villeneuve:
Originally posted by @Trevor Dodge:

Rates are great right now, so I would do a cash-out refi to consolidate the two loans you currently have. Then either do a equity line on top of that or get additional cash-out within the refinance process.

 This is your answer.  Do a cash out refi.

575 ARV

375   Owe

402 = 70%  REFI

431 = 75% REFI

 You will have to forgive my noobieness but can you be more specific with respect to the 70 and 75% numbers please?  Thanks Joe

Post: biggerpockets youtube?

James TrebyPosted
  • Municipal Bond Broker
  • Tenafly, NJ
  • Posts 20
  • Votes 3

YouTube is where I stumbled upon BP.  Who knew there was so much behind the one video I watched. Now I'm hooked on it all the website the podcasts it's an endless amount of information that just keeps growing. I only wish I found it sooner. 

Post: Advice on the best way to pull money out of my house.

James TrebyPosted
  • Municipal Bond Broker
  • Tenafly, NJ
  • Posts 20
  • Votes 3

I am open to a bunch of options. Single family in the town I live in.  Possibly a beach rental or I have no problem with a multi family unit. Whatever path I go down it will be a buy and hold. 

Post: Advice on the best way to pull money out of my house.

James TrebyPosted
  • Municipal Bond Broker
  • Tenafly, NJ
  • Posts 20
  • Votes 3

Hello BP

I posted this on the PRO section and did not get much response so let's give this forum a whirl. I am a new to the real estate investing game and was looking for some advice on what I should do to possibly pull money out of my house to buy my first investment property. I live in North Jersey and bought my house from my in laws in 2008 for a fair px of 430,000. I put down 100,000. When we did it and convinced my in laws to carry the note bec it would provide them with cash flow when they retire. Now they are carrying a 30 yr note which has 275,000 left for 22 years for me. About 4 years ago I took out a HELOC for 75,000 for improvements. My mother owns her own interior design firm so using her builders, electricians, plumbers and discounts on tile, appliances you name it I was able to gut the home from top to bottom and redo all the outside landscaping. I had my home looked at by a realtor in the spring and they said the home would sell for 575,000 on the low side. So I have a first mortgage of 70,000 (HELOC) and a second of 275,000 with the in laws. (Bank would not go in a second position to a private mortgage at the time). Any suggestions on the smart way to pull money out of my home?

Thanks

J


Post: Advice on possibly pulling money out of my home to go buy another

James TrebyPosted
  • Municipal Bond Broker
  • Tenafly, NJ
  • Posts 20
  • Votes 3

Hello BP

I am a new to the real estate investing game and was looking for some advice on what I should do to possibly pull money out of my house to buy my first investment property. I live in North Jersey and bought my house from my in laws in 2008 for a fair px of 430,000. I put down 100,000. When we did it and convinced my in laws to carry the note bec it would provide them with cash flow when they retire. Now they are carrying a 30 yr note which has 275,000 left for 22 years for me. About 4 years ago I took out a HELOC for 75,000 for improvements. My mother owns her own interior design firm so using her builders, electricians, plumbers and discounts on tile, appliances you name it I was able to gut the home from top to bottom and redo all the outside landscaping. I had my home looked at by a realtor in the spring and they said the home would sell for 575,000 on the low side. So I have a first mortgage of 70,000 (HELOC) and a second of 275,000 with the in laws. (Bank would not go in a second position to a private mortgage at the time). Any suggestions on the smart way to pull money out of my home?

Thanks

J

Post: Beach rental help

James TrebyPosted
  • Municipal Bond Broker
  • Tenafly, NJ
  • Posts 20
  • Votes 3

Thank you gentelman i appreciate the help.  I will go check out the forum post and the podcast.

Post: Foreclosure Books

James TrebyPosted
  • Municipal Bond Broker
  • Tenafly, NJ
  • Posts 20
  • Votes 3
Hello all I am interested in learning about foreclosures. Can anybody give me some good books or point me in a direction of a good seminar i should attend. Thanks