All Forum Posts by: Jennipher Jess

Hello,
My husband and I just purchased two investments properties and we honestly feel a little lost. Knowing that, I’d like to see if there is anyone on here who would be willing to become a mentor to me (as I mostly run the investments for our family)? I am willing to trade time/talent (I’m a digital marketer by trade) for time/mentorship.

I live in the Dallas area and our investment properties are in Sherman and Mesquite.

Please message me if interested.

Thank you!

Jennipher

0 Votes

Dallas, Texas

Quote from @Jennipher Jess:

Quote from @Kyle S.:

Quote from @Jennipher Jess:

That was our first one, we've done two since. Now all our money is locked in equity. We just refinanced last year and are trying to figure out how to get started with this process. It's tricky when you don't really have any money down. Any suggestions?

What state are you doing these flips in?

Texas

0 Votes

Quote from @Kyle S.:

Quote from @Jennipher Jess:

What state are you doing these flips in?

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Quote from @Bud Gaffney:

@Jennipher Jess no

Could you elaborate more on your answer?

0 Votes

Denton, Texas

Quote from @Paul De Luca:

@Jennipher Jess

Investment property loans (non-owner occupied) generally require larger down payments (20-25%), maybe 10-15% if you find portfolio lender/credit union you can get better terms. If cash is already tight, does it really make sense to get another property?

If we can find a deal on a property, but don't have the cash on hand (because it is locked in the equity of the home), I don't see why not. Curious about what others have done in this situation. Is the best strategy always to move out of your current home, buy another and make the original home an investment or are there other ways to start building wealth and keep your current home?

0 Votes

Denton, Texas

Quote from @Joe Funari:

@Jennipher Jess I would suggest you reach out to my preferred lender that is local here in the DFW area and a fellow investor, @Andrew Postell. He is a guru at going over options on best way to help you use the equity in your home to obtain additional rental properties. He has worked such miracles for me over the years. If you need any help with additional REI purchases I will be happy to answer any questions you may have. I work all over the DFW area and surrounding counties.

Thank you for this information. What is your speciality in real estate?

1 Vote

Denton, Texas

Quote from @Jeff Roth:

Congratulations on your success with live in flips.

Hopefully you have adequate equity in your current house to pull out to invest in other property.

If so, keep your current mortgage with favorable rates and take out a HELOC that allows you the flexibility to lock in a portion as a loan so the interest rate does not float on the used balance. Call around and compare rates and programs. Credit unions are good places to focus and they are less likely to reduce or close your line of credit if market conditions soften.

Happy to help!

Thank you for the tip :)

0 Votes

Denton, Texas

Quote from @Andrew Postell:

@Jennipher Jess thanks for posting. Always great to hear from a fellow Texan.

Would you mind me asking what your home is currently worth? And how much is your current loan balance? (approximately is fine)

That will help me with the math and making a firm suggestion. Thanks!

Believe it is worth around 700k and we owe a little over 320k.

0 Votes

Denton, Texas

All Forum Posts by: Jennipher Jess

Jennipher Jess has started 3 posts and replied 13 times.

Post: Mentor Needed - Trade for Pro Digital Marketing

Post: Mentor Needed - Trade for Pro Digital Marketing

Post: Mentor Needed - Trade for Pro Digital Marketing

Post: First Home Flip Success

Post: First Home Flip Success

Post: Can you do zero down and keep your current house?

Post: Can you do zero down and keep your current house?

Post: Can you do zero down and keep your current house?

Post: Can you do zero down and keep your current house?

Post: Can you do zero down and keep your current house?