All Forum Posts by: Jessica Freesia

Hi, @Matt Blackburn!  Are you still hosting re meetups in Atlanta DM me if so!  Thanks

I have been using the calculator for a while and just now realized I didn't understand this calculation fully.  

Thanks, @Alex Smith for answering this question! 

  

Wow, @Byron Scott!  So inspiring.  And you are going to really get good cash flow from it as well.  That's awesome!  Congrats on showing grit.  Now keep going!  

What kind of inquiries are they removing, soft or hard? And how? If it's the soft inquiries, why, because I thought those did not effect your credit score.

Also, what are they doing to negotiate a bigger credit limit when the cards are new to start with?  

I'm not sure why some are referring to this as an unsecured LOC. It's just a bunch of credit cards, right? I'm not against this concept per se, just trying to understand.

You don't have to be lucky.  Just tell them to move when their lease is up, or increase their rent incrementally.  If they pay market rent would you be cash flowing then?

Hi, I'm new to land flipping and working towards my first deal.  Does BP not have a board for land investors?  Is that because land flipping has very little competition or because it is a terrible idea?  Haha

At any rate, I'm looking to meet more experienced land flippers.  If you are doing land deals, especially in the Southeast, I'd love to connect.   Thanks

It depends on your criteria for purchasing. I personally would not invest in a house for only a little over $100 a month if the goal is cash flow. I think you could do better than that. And I wouldn't invest for only a few percent ROI. I am not even digging into your inputs on the specifics, I'm just basing that on the highlights. Note that I don't know this market at all, and I am a relatively new investor, but I would not do this deal. Good luck to you.

A second mortgage is going to require you to make monthly payments on an amount that is given to you whether you need the money right then or not. A HELOC allows you to borrow money as you need it from an approved account, and you pay back what you need to when you use the money. For that reason I prefer the HELOC.

My HELOC lender would have allowed me up to 90% on my primary residence, but the rules might be different on a duplex (they might not let you take out as much). The rules are going to be set by the bank, so you will have get in touch with each one to find out.

Are you still living in it? Others can chime in, but if you've moved out I think getting a HELOC on a rental become much harder. Good luck to you!

Hi Sean, 

What is your goal with this property?  Are you looking to buy and hold for the sake of appreciation?  Or do you need monthly cash flow? 

@Edward Schenkel thank you for your response!  Also, I just saw my typo...autocorrect...It was supposed to say BUY and hold!  Haha