All Forum Posts by: Matthew Dawson

@Twana Rasoul

Twana, I appreciate that! Good looking out.

Good morning BP!,

It has come time for us to move and it’s a big one. My family and I are headed to Guam! Looking to rent my home and was looking for some property management suggestions for here in San Diego.

I just started to dip my toes into real estate investing and was new to BP and this kind of throws a wrench in things, but now I guess I get to test the waters with my own house.

Thanks,

Matt

@Anthony McEvoy thanks for the reply! No not truly locked in, I have had some numbers ran and it is a rough estimate, but I know if I sold today I would have somewhere in that neighborhood. So if I used the HELOC in reality it would probably be less than 125K. That was just a rough estimate.

I just like having extra cash just incase, so if I had the ability to just use money from my homes equity and was able to BRRRR and recoup that I could essentially continue to use that equity money over and over... atleast that is what my brain tells me.

Hey everyone!

Not even close to making an offer or purchase yet still doing some learning! Had a question though. Have about 50K in cash, but also have about 125K in equity in owner/occupied home. Was interested in BRRRR possibly, but anyone have any suggestions on which to use? Cash or possibly HELOC? Both?

Am I asking the right questions? Not really sure I want to use both on one property. Is there a benefit to using cash over HELOC? Thanks. Appreciate the feedback.

M

@James De Leon Hey brother thanks for your service! I am active Navy for 22 years. Just got on this site two days ago. I have read two books on real estate investing and that is the extent of my knowledge, but I am 99% sure I am going to pull the trigger. Would love to chat it up if you were willing to? I am looking to invest out of state. Take care.

Matt

@Christopher Smith Thank you for your response. Fear is everyone’s worst enemy. I appreciate your honesty and feedback. At the end of the day it will be something I have to get over if this something I am trying to do. It does provide some ease knowing that you have been doing this for 25 years with no issues. Thanks again!

Matt

Good morning, I literally just signed up yesterday to BiggerPockets. I have no experience and no properties. I recently have started researching real estate investing and I am really interested and have the means to do so.

I am looking to BRRRR or something along those lines. After reading and research I have learned about tenants having the ability to sue you and how to use LLCs.

My question is how often does this happen? Is it really possible for tenants to go after your homes? Does that usually happen or if they win do they just get some money? I am not a fan of giving people power over my stuff, but I guess if you get into rentals that is part of the deal. I would hate to get into real estate and get sued just to lose everything. Obviously it can’t be that bad or people wouldn’t get into real estate in the first place.

Sorry for the long round about question. Thanks for your time in advance.

Matt