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All Forum Posts by: Josh Lyons

Josh Lyons has started 18 posts and replied 82 times.

@Chris Svendsen Thanks for the info. I'll check out Penfed as well. 

Post: Deciding on changing my realtor

Josh LyonsPosted
  • Charlotte, NC
  • Posts 82
  • Votes 41
@Juan Rosado I’ve read some of Gary Keller’s books and a couple by Brandon Turner and they advise strongly to have a GREAT team. Not a good team. A great one. Just like any business the people working there are the most important factor to success. I say if you’re not happy with their performance then go get a GREAT realtor. Especially since your realtor is one of the most important people on your team.

Post: How to convince my wife to join me in real estate?

Josh LyonsPosted
  • Charlotte, NC
  • Posts 82
  • Votes 41
@Joe Villeneuve haha I like your answer!!

Post: $100 per door/cashflow

Josh LyonsPosted
  • Charlotte, NC
  • Posts 82
  • Votes 41

I see a lot of people on this thread use the cash-on-cash return metric. Is that the most common one to use? I've seen articles going over the importance of the IRR and total return. Do some of you use those along with the COC?

Thanks @Randy E., that's helpful. In your experience, how much better are the HELOC fees than a bank?

Do any of you have a good credit union (easy to join) in regard to home equity loan or line of credit?  I've read that credit unions can offer lower mortgage rates than banks so I'm curious if you have suggestions on a good one. 

Post: Home Equity Loan or Line of Credit

Josh LyonsPosted
  • Charlotte, NC
  • Posts 82
  • Votes 41

 @Sungpil Lee I'm considering that exact question myself. Just curious, what are some of the terms on the two different options that you have with the two options? I'd be interested to hear the interest rates you've been quoted on each option. 
 

Post: Home Equity Line of Credit

Josh LyonsPosted
  • Charlotte, NC
  • Posts 82
  • Votes 41

Thanks for the question William. I'm also looking into opening a HELOC with my bank. I've spoken to them a couple times about it and it appears to be pretty inexpensive money to borrow.

Post: Hard money to individual or entity?

Josh LyonsPosted
  • Charlotte, NC
  • Posts 82
  • Votes 41
Ok thanks, that helps!

Post: Hard money to individual or entity?

Josh LyonsPosted
  • Charlotte, NC
  • Posts 82
  • Votes 41
I talked to my first hard money lender yesterday and they said they don’t lend to individuals, only legal entities. Is that common for hard money lenders? Is it a good idea to set up and entity for that or to find a HML that does lend to individuals?