All Forum Posts by: Julian Buick

Thanks @Wayne Prentiss

 @Timothy Riley

 @Derrick Craig

 @Marlon Wilson

 @Dmitriy Fomichenko

 @Michele Fischer

 @Account Closed

 My strategy changes the more I learn from BP. I definitely like the hands off approach and I'm now considering private money lending as I continue to learn. I think it would be a good way to invest money and learn at the same time, while continuing my day job. I have a friend that does that on a lot larger scale and has had a lot of success. I believe he would be willing to help me learn the ropes. Thanks for the support guys.

@Larry Fried

 That's good to know. Thanks

@Jay Hinrichs

Haha I'm not sure if that's a reference to the rainfall or the pot laws in Washington state but yes, there is very little grass that is greener than in Washington state

@Dmitriy Fomichenko and @Paul Timmins

Thanks

@Larry Fried I've been told that the market up here is really tough to find good rental properties. The 2% rule definitely does not apply. I have a friend that does some out of state investing in places like Florida and seems to be having some success. How is it down there in Oregon?

My name is Julian. I don't have a lot of background in real estate other than having bought three houses as primary residences over the years. I'm originally from Belfast, Northern Ireland but have been living stateside for almost 20 years. I moved here to work for an aerospace company in the Northwest on a 6 month contract and never left. I joined bigger pockets a few weeks ago after a friend referred me and after reading lots and lots and listening to a lot of the podcasts I figured it was time to introduce myself. 

At first I had no idea what direction I wanted to go in REI but I think I've narrowed my focus a bit. I'm leaning more towards notes buying and buy and hold cash flows. Not too interested in wholesaling or flips. I have quite a bit of equity in my primary residence that I plan to use for purchasing rentals and I have quite a bit of savings in my retirement account that I can use for note buying. I'm more interested in generating passive income while still working my day job than getting my hands dirty on a building site. At least in the beginning.

So, hello everyone. It's nice to be here.

Cheers,

Julian

I don't have the time or experience to do a fix and flip and I don't know anything about hard money lending so I'm thinking about cash flowing a rental. 

I have a considerable amount of equity in my primary residence and am thinking about getting into real estate investing. The problem is I have very little in the way of spare cash. My 9-5 covers my monthly expenses with little left over to save/invest. What are ways that I could use the equity in my home?

I'm thinking about getting involved in real estate investing. I've been working as an engineer for the past 20 years and have built up about $325K in my 401K but I hate the idea of building this up until I retire and then spending it all after I retire. I have about $475K equity in my home. My job pays well but the income just about covers my expenses. I'm trying to decide whether it would be better to pull some money out of my 401K or to get a HELOC to start investing. Any suggestions?

Thanks,

Julian