All Forum Posts by: Matt McElravy

 Thanks Chris.  So you'd excpect 7-8 percent by today's rates?

Hi Brian, I don't think we have enough equity yet for a HELOC to help much. We've owned it for almost 1 year but bought it just below market price on an FHA 3.5% down. Great for getting into our first rental property but not so great for HELOC / Refi.

Does any one have experience with Bank Statement Loans? Im a self employed IT contractor and it's time for us to buy our next house hack. I have over 2 year's tax returns but I have some heavy write offs that make me look poor to lenders :-). I used tax returns to get an FHA loan on our first duplex but had to claim fewer right offs to do it. I'd rather keep my right offs if possible. Bank Statement Loans seem to be a good option for staying as close to traditional lending as possible. Thanks in advance for your help.

Thanks Alina. Meetups are one of those things I know I should do but haven't made the time for. You're right. I'm sure it will make a huge difference in opportunity and networking. There appears to be several good groups around too. I think my main barrier is that I work a lot and have a tough time sacrificing more family time for a meetup. Long term though, I'd probably make more money if I sacrificed some work time to get involved with a group. I'm going to make that my main goal for August. Thanks for the welcome as well.

@Josh Lewer

Thanks for the welcome and the links. I will check some of those out. I've listened to most of the podcasts but it's always good to review.

We are house hacking our duplex. We got an FHA mortgage on it and will have had it for a year in October. Our plan is to buy another plex soon and house hack again.

Hi Rhonda! Welcome to BP! Sounds like you are well on your way. Glad to have you in the community. I'm sure you have a lot to share.

Hi Mark! Welcome to BP! Sounds like you are off to a great start. What are you looking for in your next deal?

Welcome Donnell! Good luck on your journey!

Hi Cora! Welcome to BP! Tons of info here. I'd recommend consuming the podcasts to start. There are several that deal with getting started. I bought my first property in October and BP was the guiding light for me.