All Forum Posts by: Michael Volek

@David Uzhca

Hi David, one of the most common ways to tap into your equity is to get a HELOC, a home equity line of credit. This line of credit is backed by your home's equity, essentially turning it into a credit card with a low interest rate. You'll have to apply for it just like you would for a home mortgage, and some lenders even pay your setup costs. PenFed is one such lender. Google a few in your area and let us know on here what you found out.

@M Blue

Congrats on your success.

If you're following the BRRRR method, and you're finished with the rehab and it's fully rented out, your next step may be to pull as much cash out of the deal as you can. This can be done by way of a cash out refinance. Once you have your cash back, you can find another duplex and repeat.

@Valentin Esquivel

Why wait for something that may never happen when you can create your own awesome deals today?

@Kelvin J.

Hi Kelvin, and a big welcome to BP.

My name is Michael Volek, and I have worked on AF fighters for about 15 years now, so it's very nice to see a pilot on here.

I'm an Air Force veteran and real estate investor in Arlington, TX and I have personally spent over 7 years overseas working for the military.

I'm sending you a PM. I feel like you and I should get together and exchange experiences when you have time between your deployments. I truly believe we can help each other.

-Michael Volek

Hi Jay,

I believe it is up at the top under find deals and real estate listings.

@Peter M. Roger that, calling them now. Thank you

@Peter M., I'm in the DFW area, and I'm looking at Helocs but I can't seem find anyone offering them. Who do you use?

@Shawnette Pankey, my credit union, Navy Fed, stopped offering helocs. What credit union do you use?

@D Turner

Playing to an agent's greed feels wrong, and it probably is, but it gets results so everyone else is willing to turn away. Inventory needs to be moved otherwise no one gets paid.

It reminds me of when you're selling a house, and for whatever reason, it sits. You could drop the price 5-10k, and maybe you'll get a few bites, or you can raise the commission one percent, and watch them hustle for a bigger paycheck, saving YOU time and money. Incentives are effective.

@Gail Gray

Hi Gail, we have experience with airline crashpads and are interested. Please PM me so we can discuss options. Look forward to hearing from you.

-Michael