All Forum Posts by: Kyle Shrum

Good to meet both of you! Reach out anytime you have questions about the Chattanooga area. I've lived here all my life and wouldn't live anywhere else. 

Great to meet you Marcus! I'm an agent and investor in Chattanooga and have lived here all my life. It's a great place to call home!

Hey everyone! I just started my first month as REALTOR in Chattanooga, TN. I'm currently licensed in both TN and GA, since our city sits on the state line between those two states. I've been around BP for a long time for general investing knowledge and networking. Had a blast learning and growing my network at BPCON 2022 in San Diego! Just wanted to introduce myself.

@Whitney Hutten what is the difference in the taxing strategies between active and passive income?

@Chris Levarek thanks for your input! The only other debt I have is my wife's car and our mortgage. The mortgage is staying put for now but would like to  get the car and student debt paid off. I see what you mean about mastering a strategy. I guess that's my biggest issue is picking one to get started with!

I'm still working on building up cash reserves before jumping into investing, but I want to nail down a strategy to pursue once I have enough cash. I really want to pay down student loan debt to $0 so it's not hanging over my head while I'm trying to build wealth. I'm wondering if wholesaling would be a good route to go for this so I can learn the ropes in REI and also use profits to pay down debt. I would like to be able to reinvest all my cash flow from rentals into more properties, so wholesaling would give me income without having properties to manage. Is that a good strategy, or would I make more profits from investing in rentals than wholesaling and be able to split cash flow between debt management and reinvestment?

I'm still working on building up cash reserves before jumping into investing, but I want to nail down a strategy to pursue once I have enough cash. I really want to pay down student loan debt to $0 so it's not hanging over my head while I'm trying to build wealth. I'm wondering if wholesaling would be a good route to go for this so I can learn the ropes in REI and also use profits to pay down debt. I would like to be able to reinvest all my cash flow from rentals into more properties, so wholesaling would give me income without having properties to manage. Is that a good strategy, or would I make more profits from investing in rentals than wholesaling and be able to split cash flow between debt management and reinvestment?

My wife and I are looking to start investing this year. Currently we're working on reaching a savings goal before we make a move, but we're trying to nail down a strategy to pursue. Using a HELOC is one option we're considering. Our HELOC amount would be roughly $25k-$27k. Here are the options we're considering.

1) Use a HELOC to update our current primary residence (SFR), sell it, and use profits for next property.

2) Move into a new property (probably MFR), using primary residence as a rental in current condition. Use a HELOC as either a down payment or rehab budget on the new property, and use OPM for whichever other piece we need.

3) Stay in primary residence and update it with HELOC; use only OPM for new property.

Thanks for any advice!

My wife and I are looking to start investing this year. Currently we're working on reaching a savings goal before we make a move, but we're trying to nail down a strategy to pursue. Using a HELOC is one option we're considering. Our HELOC amount would be roughly $25k-$27k. Here are the options we're considering.

1) Use a HELOC to update our current primary residence (SFR), sell it, and use profits for next property.

2) Move into a new property (probably MFR), using primary residence as a rental in current condition. Use a HELOC as either a down payment or rehab budget on the new property, and use OPM for whichever other piece we need.

3) Stay in primary residence and update it with HELOC; use only OPM for new property.

Thanks for any advice!

Possibly jumping into this kind of renting as well. Great info here.