All Forum Posts by: Kate Reese

@Rebecca SalazarIm I have an identical timeline/ strategy! Thanks for asking, I’m curious at the types of responses!

@Aaron Fletcher Hi Aaron, there is an option where you can open a home equity line of credit. This often requires getting an appraisal on your current residence. After it is appraised, you can open this home equity LOC and use that to finance this cabin you are looking at. This could be used as a down payment, construction, or cash in a rent to own.

Equity line of credit is a a great option if you are not sitting on an abundance of cash needed for a downpayment/CapEx

Of course this depends on the equity you have built up in your house.

Hi BP community!

I’d like to preface this by saying I currently have no investment properties, just a curious future investor!

I’ve done a lot of research lately about Hard Money lenders. I know they can be incredibly risky, but also a great tool if used correctly!

My question is, if you get a HML to contribute 90%, meaning you'd put 10% down, is it possible at the end of the term when you have to pay back the lender, you refinance the property he/she helped finance?

Further, say you have a majority of the money owed available, (accumulated through cash flow/other savings), Is it possible to refinance the equity you've accumulated over the year to pay back portion of the HML you do not have?

Thank you in advance!

Hi Russell. I anticipate my first property to be an owner-occupied multifamily, so If I do invest in Texas, I will also be there. I do see the value in investing locally if I opt out of an owner-occupied unit. I live in Potomac, MD, so If I move, it will likely be where my investment can go a bit further. 

Thank you Andrew! From what I've learned thus far that seems to be the best way to get into it!

Hi @Mitch Messer! I currently live in the DC area, so I am aiming to invest out of state. Right now I am most interested in Texas.

Hi Everyone! I am currently finishing up my MBA, which I was able to earn while playing my 5th year of college soccer. I previously worked for a private equity company, and completely fell in love with real estate. While I am working during the day, I have real estate podcasts (very often from bigger pockets), and much of my free time outside of work is dedicated to reading books, analyzing deals, and watching videos. I have an incredible passion to fully immerse myself in the passive real estate investing space. While my passion was once soccer, it has now transitioned into real estate. My goal is to utilize an FHA loan to do an owner-occupied house as my first deal, hopefully within a year.

I am excited to join BP and connect with investors who share the same drive and determination!