All Forum Posts by: Jeremy Kitchen

Welcome to BP, Michael!

Bigger Pockets is awesome. If you have time or availability, I'd definitely try to go on meetup. com and look for REI groups in your area. A lot of these places don't try to sell you anything (not all of them) and have really good intel/resources in many different investing strategies. Find 1 or 2 things you'd like to do, set a goal, and work backwards toward it. Make sure to do the little steps, ask questions, be open minded in learning, and have a positive mindset. There's plenty of helpful books as well. Bigger Pockets has a TON of great content (I see you're a pro as well, so take advantage of those webinar replays), so choose a plan you like, and set it in motion. :)

Hey, Darrin!

What strategy are you looking to get into?

Bigger Pockets is an amazing community, but I'd also recommend going on meetup . com, searching facebook or other social media for investing groups, and finding local REI meetups in your area. They're a great place to meet face to face with like minded people, network, and learn. Also, add other members in your area. Ask questions, and narrow down a good strategy that works for you!

Hopefully that helps a bit.  Let me know if you have other questions!

Hi, Rajesh!

It really depends on your situation. How much does your townhouse cashflow? Do you have a decent amount of equity? If so, you could always Cash out Refi or take out a HELOC. Cash out refi is tax free, but raises your payment/possibly interest depending on what rate you have. I have a HELOC on my house. We only pay interest when we use it, and it has allowed us to purchase another property already. You can also 1031 Exchange it into another property. That's a tax differing option to think about!

Let me know if you have any other questions

I found this post on a reddit search

"I have a house as an investment property with equity I'd like to access to buy a home, but because banks think everyone lost their jobs and because of this many will default past the forbearance, trying to get a cash out loan from an investment property is ridiculous, with a 710 credit score, they were asking 5 points to pay down the rate to something reasonable (4-5%), eating into the cash I can get access to. I don't want to seek the house (15 years left).

So, I found an alternative where a company, such as HomeTap, essentially invests in your home, gives you cash, does not pull a hard credit inquiry. In return you agree to sell the house in 10 years or buy-out their position in the property. I am assuming they get added to the title for a specific percentage of the property and reap the benefits of both fees and appreciation and can force a sale if you don't sell or buy them out."

That makes it sound like they have a lease or buy option to buy your house in 10 years.  So say 10 years pass, and you don't have enough instantly available to payback their terms of the loan, they might get first option to buy from you or force you to sell your property to them. 

That being said, all the reviews seem legit, but keep in mind, companies can buy reviews as well.  If you're interested, just make sure you read ALL the fine print, and protect yourself/your investment first.

The deals are still out there. I'm on a lot of wholesalers mailing lists and they come in quite frequently.  They're not all grand slam deals or anything, but they do come in still

 I'm not sure where they're from, but I met a mother-daughter pair named Cassie and Deb.  Their website is sweetestroom.com or on IG @sweetestroomrd

It was so incredible meeting everyone!  I'm going to try and search for members on here I connected with.  If you recognize me or just want to connect if we missed a chance, I'd love that as well!

Let me first say, what an AMAZING experience it was being at the Bigger Pockets Rookie Bootcamp Weekend.   I met so many  great people, and learned an incredible amount from information from great hosts, presenters, and attendees.  Thank you to all of those who put on the event, answered our questions, provided value, were friendly, and approachable.

You've been presented with all the information.  Now, my question to you is, what are you going to do with it?  What did you learn over the weekend that you're going to implement into your business strategy?  

Create your plan of action, and TAKE IT.  Offers won't analyze and make themselves.  Leads won't come in without systems.  You won't find that business partner/team member if you don't network or actually search.  A goal without action is just a wish after all

A few key tasks I'm going to implement are

1. Doing the little things daily to make the bigger tasks easier to accomplish.  This will compound and have a massive effect.

2. Being intentional and keeping the proper mindset.  Decreasing the amount of toxic content I indulge in, and increasing the amount of positivity in my personal, and business life.

3. Building systems to work on my business. Get a better social media presence and create engaging, insightful content.

and much more.

Thanks again, everyone! I'm absolutely pumped up, and I hope you all take action with me

Try to do both!  Usually, I try to leverage Other People's Money before I dip into my own personal nest egg.  When you borrow, you're locking in inflation rates.  Say you borrow $100k and pay it back in 5 years.  When you borrowed it, hypothetically, it will be worth more than when you pay it back, which makes you more money in the long haul.

I've heard people learn the most from their "whoopsie" properties.  It sounds like you have new systems and knowledge in place, and it will set you up for future success!