All Forum Posts by: Jeremiah Robison

@Ken Eck, thanks for the feedback. I am almost done listening to David Greene's BRRRR but may get a hard copy too to be able to physically pick up as a quick reference guide. For those of you that posted, do you normally use a real estate agent to find deals of the MLS or do you find deals directly with the seller? If you find deals directly with the seller, how do you go about putting together the contract and closing?

My wife and I bought in an up-and-coming neighborhood just three years ago, but now have 130K in equity almost entirely from appreciation.  We have solid jobs and a small emergency fund.  I am interested in deploying our equity so that we can generate cash flow.  Real estate in Charlotte, NC is getting expensive fast, but this is what I would like to do:

-Open a HELOC

-Buy a distressed property (one that will qualify for a loan but still needs work)

-Utilize HELOC for the down payment and for repairs

-Rent

-Complete a cash-out refinance for the forced appreciation

-Pay off HELOC

-Look to repeat

Here is the rub:  My wife is very risk-averse, and I think the best risk mitigation is to "buy right", but I don't know how to do that without doing a direct mail campaign. I am also concerned realtors might get annoyed at me trying to find a property at 25% below ARV Less Repair Costs. It might take a while in my area.

Does anyone have any recommendations for me?  As a first time investor, how do I efficiently "buy right"?  Will I drive off quality realtors trying to find a below-market deal?

Thanks for your insights!