All Forum Posts by: Jacob A.

This is a pretty specific question and hopefully theres a lender out there that can help me out. I'll obviously be talking with a lender here in town about it at some point but here's the scenario. I got a loan from my parents to buy my house in 2010. They are extremely lenient with me on payments as I am just paying interest only and paying principal whenever I can. My questions is this.... how much can I take out with a HELOC? As far as the bank is concerned I own the property free and clear, the deed is in my name and I owe no financial institution any money. However, realistically I only have about 25-30% equity in my home technically because I still owe my parents on the original note. If I explained to the bank that my parents would be willing to not accept payments for a few months would they allow me to take a loan on the full value of the home?

Good deal, thanks for the info Mike!

Bryan,

I had it on my radar and have registered for it. I look forward to attending and hopefully meeting some great people and listening to what they have to say. Thanks for the tip!

Awesome, thanks for the tips guys!

I'm new to the real estate investing/flipping scene here in Raleigh, NC and I've done all of my due diligence including educating myself, finding a good realtor, locking down financing and finding a contractor. I'm curious how some of you found your first deals as competition is through the roof here as I'm sure it is in most other places. I check the market daily for deals and there's just not much out there as I'm assuming most of the great deals get swooped up before they even hit the market. What kind of recommendations do you guys have on breaking through these barriers to entry? Thanks in advance for the advice.

Just Raleigh/Wake Forest/Knightdale at the moment. With a full time job I want to have something close by.

Hey Everyone,

I'm a new member from Raleigh, NC. I'm a 26 year old CPA that has been fascinated with real estate investing for years. I'm fortunate enough to have some cash in my pockets and was hoping to invest it in my first flip here shortly. I've spent that past few months really researching the process in my free time when I'm not working and this site has contributed greatly to my education thus far. I've already begun assembling a team (realtor, mortgage broker, contractor) and I'm working on finding the deal at the moment. I'd love to speak to an experienced investor in the Raleigh area that would be interested in speaking to an eager newbie! Keep up the good work here and thanks for all the great info thus far.