All Forum Posts by: Lynn Anthony

I am going to begin my real estate journey in the next month after we finalize a cash out refi on our personal property. Initially, I wanted to do buy and hold, but as I do more research I am finding that beginners should start with wholesaling and flipping. I am also concerned about the eviction moratorium being extended to September. I currently have a full time job which is not flexible so I’ll be relying on my husband to do the networking and make connections since his schedule is more flexible. I am looking for advice from experienced investors, any suggestions as to what avenue of real estate we should begin with?

@Adam Rust we haven't found a property yet. We are doing the cash out refi on our personal property so we have money to BRRRR. If we do not have enough we might have to do hard money or conventional loan.

@Andrew Postell Thank you. You are correct we are going to use the money to buy a SFH and BRRRR. I will just check that it is not for business purposes.

I am doing a cash out refi on my personal property so we have the cash to buy a BRRRR. This is our first time doing this and after reviewing the refinance mortgage paperwork there is a page for the commercial purpose disclosure stating whether or not this money will be used for future commercial or business purpose. Is there anything I should be worried about with this or should I just go ahead and check the box that I will be using for business?

@Whitney Hutten Thank you! I was planning on doing Turnkey in Memphis TN with B class neighborhoods for cash flow right now so I can pay down the HELOCs faster. Not sure if this is a good strategy?

@Ali Boone Thank you so much for your reply! I am a little worried because we got $100 k HELOC with the mindset we were going to do a BRRRR but since it has been quite the challenge we were leaning towards turnkey. The problem is we would have to use the HELOC for the 20% down pmt and closing costs so we wouldn't actually cash flow for a few years since we would pay the HELOC down after getting roughly 5 properties. Do you think this is wise or is there another way around this that I haven't thought of? Would you mind sharing your Facebook group?

@Mike D'Arrigo great article! Thank you so much!

@Ryan Howell Thank you for all the info. Unfortunately, I am having a hard time find wholesalers. I have an agent, contractor and PM. It’s finding the deals that is an issue since I am not able to jump on the deals fast enough since I teach all day.

Just curious on what the more experienced investors think of turnkey properties? If the numbers work would you do it? I work full time and have a family so I am struggling right now with trying to invest out of state since it’s too expensive where I live. I know you have to jump at a house as soon as it comes available and with me being a teacher, I don’t have the resources during the day to be able to do that. Thoughts?

@Catherine Emert thank you. Would an agent be willing to do this since they won’t be getting commission with off market properties?