All Forum Posts by: Matt Giordano

what are some top picks for management apps or desktop software you are using? 

also, aside from the regular calendar app on the phone, does anyone have a good recommendation on an app that allows you to track your milage, add repair expenses and post the days you are at your rentals checking up on things ?

Does anyone have any good recommendations on creating a simple excel sheet to keep track of your rentals?

@Joseph Firmin

Thank you Joseph

@Kyle Robarts

Did you use HELOC?

@Brandon Sturgill

I’m curious here on answer as well

Scenario

You own a home mortgage free that has 300k equity

At 80% you get a HELOC for 240,000

If you use 100k to start with, purchase property, fix, etc... ARV do you pay off HELOC or reinvest

Also, based on say 2.8-3.5 % does anyone know roughly or have advice on understanding what the HELOC monthly payment would be on the 100k?

Appreciate the responses

Matt

@Coley Mitchell

Thanks for your reply on this

Did you happen to do the BRRRR process from your HELOC ?

@Tyler Mulcahy

Thanks for your reply and for pointing out something I should have stated.

Goals are to build passive income and build a diverse portfolio of single family / multi unit rentals as a buy and hold strategy

We would like to create great cash flow to provide us the freedom to not have a full time career and accomplish this over the next decade

We are interested in the BRRRR process rather then the financing option because we had the 2 options I mentioned to work from

So far this was our thinking

Hi everyone

1st time rental property investors.

After much research our next step is trying to determine which option would be best for funding the 1st deal!

Scenario /

1. We own a mortgage free property that has at least 200k in equity. This was an inheritance and all we pay is our taxes.

We were considering pulling out a Line of credit to begin our investing goals

2. We do have enough funds in our personal savings account to at least purchase and rehab a property all In at say 80k

Hoping you could provide some advice to help us with our decision

Much appreciated

Matt & Anna