All Forum Posts by: Jon Thomson

Thank you all for your input. I should have also mentioned that I am currently flipping to grow capital for investment. That was what I intended to use the HELOCs for as well, not longterm loans. Also I am investing more for cashflow. My W2 has a good retirement and I don't plan to try to leave it. I'm investing for cashflow and wealth asset growth. 

 My rate is 7.5% so the difference would not be much either way. Good point though. Thanks for the input

Alright looking for some insights and opinions. I have a low price SFH LTR. I owe $84,000 on the mortgage. It currently cash flows $300 a month on a $1200 a month rent. Debating on what strategy to use as I try to grow my portfolio. Asking for the plus and minus of these 2 options.

Option 1: Save cash and pay off mortgage. Thought is triple+ cash flow with just one insurance, maintenance, and management cost. Take out HELOC on property and use that to continue to invest.

Option 2: Purchase additional properties and build portfolio 

I know that there are some tax implications to no having the mortgage payment to consider. Other then that I'm wondering on the downside of option 1?

Please share any and all thoughts

Thank you!

Thanks David!

Hey all

I'm a newer investor so I'm still trying to find my sources for deals. I am focusing on Fix and Flips at the moment, with an intention to grow a longterm rental portfolio. I am finishing a flip right now and looking for my next property. I am trying to expand my search beyond the MLS, so I am looking into auctions and wholesale. Where do I look to find a local wholesaler? Bonus points if you add your favorite auction site!

Thanks in advance!

Jon