All Forum Posts by: Josh Belgard

@Vernell D Watson With all that said, I’ll buy it if you don’t! Numbers don’t lie. 😜 Legit public schools, improving or already solid neighborhood, and a strong local jobs economy. These are my top three must haves. Preferably not one industry but multiple strong job opportunity markets.

@Thomas S. Great post! Curious why you would leave REI? This always fascinates me.

@Terrez Jarrett My last purchase was a 1/1 condo @ $38,870. “Sold” it 6 days later after investing $4.00 in a spray bottle of cleaner for the counters/floors for $79,900. Owner financed at 30 years for 9.9%. You can make cash/cash flow in the under $45,000 price range. Do your homework and be patient.

@Danielle McClelland Unfortunatley, went through a divorce IN 2011 at 36. Fortunately, I needed a place to live and learned about living in one side of a duplex. 10 paid units later I am now FI and happily remarried.

@Stephanie Pieri Went through a divorce and in despair learned about duplex living. I knew nothing about rentals but common sense told me that having a tenant next door to pay the entire mortgage and most of the escrow wasn’t a bad thing... VERY thankfully, 6 years later I’m now FIRE and able to mentor others. My same tenant is still in the duplex and has never missed a payment and has never been late.

@Joe Pitrolo I absolutely love auction.com. Once I closed the first deal with them they kept my info and I get emails as soon as a new property hits their pre-bid system. I sure there will be a hiccup one day, for now I’m a fan.

@Eric Gibbs Thanks Eric, will give them a call on Monday.

Seeking a bank that offers a prImary resIdence HELOC (All In One). We use PLOCs for our rentals and they work very well. We don’t want a fully amortized loan but a simple interest HELOC. Any bank leads are welcome. We’re in Louisiana and appreciate the information.

@Carrie A I’ve bought from both U.S. Bank and BOA and both went super smooth. Were there paperwork changes? YES! Lots but I went into this expecting some. The 50 cents on the dollar was completely worth every hiccup. The U.S. Bank deal was brokered through Auction.com - I highly recommend this service and am currently eyeing two more properties. Best of luck in this, sometimes, wild ride!

I have used a PLOC to “cash” purchase rental property for 50 cents on the dollar in Baton Rouge. Paid the PLOC back with nearly all my additional income in 2 months. A few notes:

1. Must have financial discipline.

2. Must have extra cashflow each month to velocity bank.

3. Really should have a plan B if something falls through. Hiccups in life WILL occur. Leaning too heavily on any form of credit is dangerous.

4. Leverage is powerful when in balance.

5. Know your risk/reward and risk tolerance.