All Forum Posts by: Mathew Collins

Thank you @Andrew Postell.  This will be my first purchase of a rental property.  I own the house I live in now that is worth about 500k and work full time at around 70k annually.  I also have about 40k in cash in a brokerage account and no credit card debt. I was thinking about paying in full with a cash out loan because I figured I could get a better interest rate if I were to do that.  This being my first investment property I wanted to keep it small and simple to minimize the risk and get some experience under my feet.  Thank you for your time and knowledge.  Everyone has been so helpful on here and can't wait for the day I can give back.  

Hello BP Family!  

I have a meeting with and old friend that has become a lender and am scheduling a meeting with them.  Any ideas on what questions  I should be asking him?  I have a house that is paid off and was thinking of taking a cash out loan to buy another property!   

Thank you, 

Mathew Collins

@Greg H.  Thanks I may just have to move to Texas.  

Hello BP family!

  I have come to an understanding that I need to get my assets in a "Living Trust".    Before I get it started I wanted to get my real estate investing plan in place so I can mitigate the problems before they happen.  

With my house being paid off in Southern California I have a pretty good opportunity to borrow from it.  I was wondering what your thoughts would be on taking a loan out on my house that I live in and buying rental properties?  Should I put my house in a Living trust before???  after??? I were to borrow from it?  Or is there a better way for me to go about this?  I also work full time as a Union Electrician and make pretty a pretty good income to cover some as well.  

Thank you for all your wisdom I cant wait to read all your replies.

Sincerely ,

Mathew

Thank you all for your quick support with that question.  I will be looking into getting it into a trust. 

 Thank you all.   

Matt

So what I want to do is protect my house with an LLC while living in it. I own the house outright. Is this a good idea? Can it be done? I will also be buying another property soon as well and would like ito to be in the LLC.

Ok so now I have watched a Podcast that fit me quite well.    I have been thinking about real estate investing for years.  in 2010 I even went to FL to look at some properties bun never pulled the trigger and have been reluctant ever sense.  I just felt under educated.   I decided to pay off my Southern California home instead.  I have now saved up enough for a down payment on another place and am in the hunt again.   Should I take a loan out on my house to buy a property elsewhere and leave my saved net in my stock portfolio?   Any suggestions would be much appreciated?    

Thank you @Dmitriy Fomichenko

Those seem like good places to start.  I will read up on those  thanks again.

@Adrian Lopez

@Adrian Lopez

@Adrian Lopez It is a pleasure to meet you.  Congratulations on your achievement with the Salesperson  License.  Santa Paula seems like a good place to start.  I would think there would be tons of potential there.  But hey I am new at this.  Hope to see you around so we could chat.

Hello everyone,

       My name is Mathew I live in Ventura CA and am new to real estate investing.  My friend turned me on to BP a few days ago and have been indulged in the magnitude of different resources BP has to offer.   I am interested in getting my feet wet with a Buy and Hold strategy for a rental property or two possibly even outside of California. 

Thanks,

Mathew