All Forum Posts by: Jason Wu

Hello my fellow BP friends,

So I am considering doing a HELOC to make about $60k available toward a rental property. The rate on the loan is hovering around 5.6% and I am thinking to use this entirely as a down-payment towards a duplex in FL that generates first year Cash on Cash for about 6%.

Second option in my mind of using the HELOC is to put it in private lending space. If I can fund short term loan within 12 months that can generates a 8% ROI or above on first year.

Which would be ideal way of using the equity line? What are the risks vs rewards that you guys see on these options?

Are there other options to invest HELOC?

Thanks everyone!

Okay so my fellow BP friends.  I might need some insight what direction I need to take from here.  Here is the story....

I was out jogging one day and decided to take a left corner on a routine run instead of the usual straight run. What happen next is textbook style driving for dollar.  I bump into a rundown house on a big lot in an excellent area, located between two great high school and very desirable community.  The drive way is full of weeds, old newspaper thrown over, no cars parked, no window blinds, and all the trees are untrimmed.  I was lucky to ran into the old folks who is living next door; a grandpa, who knows a thing or two about the problematic property.

He has told me that this home is under receivership, and that the appointed new owner is hundreds of miles away from there.  The grandpa also hope that someone would remove the owner of the property because she is not cooperating with the city and is getting complaints from the neighbor about neglecting to keep up the property.  I also see evidence that the newly appointed owner has been working on the property to try to fix it up to comply with the city code but it has been taking over 2 years and still hasn't fully finished.  All the facts I see shows me there is a chance that the owner could be in distress.

I am trying to map out a plan of actions as this looks like a diamond in the rough for a beginner like myself but my questions:   Can I wholesale receivership properties?  Is it a good idea to pursue this?  What should I be aware of? How to I calculate how much would I offer for this property?

The trouble is, the group wanted to keep the financing so I couldn't see a way to deal with this type of situation.

We are working on partnership with a group of like-minded investors. One of the investors would like to transfer the title under an LLC but is concern about the due-on-sale clause. We are seeking for experience and advice from anyone who has already done this. Any resources would be much appreciated!

I got my exposure to TTK through Real Wealth Network - have any has any luck and how is the experience with them?  Their inventory sounds very attractive but just not much review on them.  Not sure how reputable they are?  Are they good?

Great stuff.  But where is the best place where I can get a copy of lease agreement? (or a template of such)

Hello to all the greatest and awesome people in BP!  I am new to investing in real estate and I am planning to take my first step to put my investor hat on.... Condo Hacking.  I own a two beds two full baths condo in La Habra California for my primary use now.   My wife and I would like to save up more for our first investment rental and we both agree to rent out the master bedroom as we don't use it as much as we originally planned to.  I have never been a landlord and the more I think about this the more questions I have. I thought maybe BP can point me to the right direction:

1. Is this a good idea?
2. Where do I start?
3. What am I looking at in this situation and what should I be aware of?
4. Do I need a lease to rent out one room?
5. What else could I be missing?