All Forum Posts by: Lan Raby

@Johnathan Williams. Shot you a Gmail.

Johnathan,

I am interested in the properties in Alabama.  Currently, I am setting up my teams for various areas.  I have focused in the past in Baldwin County.  I am concentrating on the Mobile area, but open to Birmingham/Huntsville opportunities.  Looking for high-cap, low cost occupied.  

Lan

Non-owner SFH rental.

I got 80 LTV. 84K for a house appraised at 105K.

@Michael Bettencourt. I was successful with Wells Fargo. But I had to walk into a big branch and ask for a loan officer that was familiar with HELOCs on rentals.

  Thanks Brian,  I didn't know that... I appreciate the heads up!

@Stuart Fox. Wells Fargo gave me an 75/25 HELOC for a house I owned outright. It took awhile for me to find a good loan officer in the bank, but once I did, it was smooth sailing even though it was out of state.

@Wiey Underwood. Look into a company called Fundrise, they do REITs and you can also invest in individual apartment projects.

@Frank Chin. Frank, what are some of the pitfalls and advantages of investing in NY? I’m a military transplant up here in Orange County and have been turned off the rental market from the massive property/school taxes assessed. Where did you start and what is your rate of return?

@Tj M. Great question. I’m 43 and my rentals are not paid off. I plan to get them paid off in the next 5-7 years. But I did purchase rentals for my parents that they own outright and use the rent as retirement payments in addition to social security. Without the rentals, they could not have retired since the stock market and a terrible “financial advisor” destroyed their retirement accounts. Thanks for throwing out the question since the responses I am seeing are encouraging.