All Forum Posts by: Micah Mcarthur

I dont mean to hijack your thread, I am new and trying to figure out this turnkey game, as it is very appealing to me.  so please forgive me.  

If someone else has already done the work, why are they selling for $20K less than market?  why wouldnt that seller just sell it outright, and take that $20K addtional of instant equity for themselves?

Thanks Jay, I found it on the meet up website.  it appears its the 4th Thursdays.  Generally I should be able to make Thursdays.      

Is there still a thursday meet up in Louisville?  I see there are tues and Wed meet ups in the Louisville area, but my travel schedule makes it fairly difficult to make early week meetings.

I am starting down the path to REI, and I am trying to understand my options for acquiring the capital to invest with. I do not yet have a property selected, but lets say I want to use the BRRRR method for a SFR with an ARV of $150K. I need a down payment, and I need funds for the rehab. I have the following options

Currently, I only have about 10K on hand, but I could bump that cash on hand up to about 20K in the next 4 month.   I could get the down payment, but strap myself for cash, and still need rehab money.

I have about $30K in Roth contributions that I could withdraw free and clear 

HML--- I dont know too much about this yet, my wife asked if Hard money and private money had anything to do with the mafia....

Or......

Could I use a HELOC, for everything?? ...My residence is worth about $250K, and I only owe $100K, so I could use the $150K equity to invest in a property, then refinance, and pull my capital back out and pay off the HELOC?

this seems too easy.  what am I missing?  My wife and I are both a little nervous about chaining our house to some investment properties. 

I am in the Goose Creek area.   My personal residence is established and almost paid for, so I really dont have an area I need to focus on, I may even look into surrounding areas like Hardin County, Bullet, or others.  Although, I am still learning what to look for, and analyze the deals.   Stock piling cash and knowledge in the mean time

Hi Eric, 

just wanted to reach out and say Hi. What area of Louisville are you in? I have just found this forum as well, and also looking to purchase my first REI in the next 4-6 months. There are a couple of groups I have found locally, although I have not yet had a chance to attend one of their meetings.