All Forum Posts by: Michael Bland

@Zach Wain thank you.  That is exactly what I was wanting to get clarified.  I appreciate all the help!!!

Luke I'm looking to understand how this works. I was asking if the 20% would still be required, since it is I'm not sure this is the option I was hoping it would be. Just learning. I think this would work for a BRRR but not for a ready made move in rental.

@Shiela R. thank you, and agreed.  The price point becomes critical obviously to ensure viability of the model.  I appreciate the assistance.  

Thank you, not looking to add value to the property with the target in mind but obviously may want to use this for other BRRR properties in the future. I appreciate the response.

Hi, I'm interested in buying my next property but looking to use a HELOC to buy the property and then refinance to pay back the HELOC. Question, when you refi do you still have to have the 20% cash you typically need through a standard mortgage. I'm really unclear on how the refi piece works when you already technically own the home through the HELOC. Anyone done this before that has some information I would greatly appreciate it.

I use Pretty Pools for my pool in Flower Mound.  Great service.  https://www.prettypoolsdfw.com...

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $160,000
Cash invested: $40,000

Single Family 3 bedrooms 2 bathrooms. Fully remodeled inside, new AC, roof, electrical etc.

Thank you everyone for the welcome and the helpful tips.  I'll start looking at all the suggestions.  I appreciate it!

Hello everyone!  My name is Michael.  My wife and I bought our first rental property earlier this year through a family friend that has been doing this for some time.  I've been working to get more knowledge and understand the process of how to move forward.  I'm loving everything so far, but have A LOT to learn.  Ideally, I'd like to buy several more properties and leave the desk and have rental income provide for me and my family.  I've started late so a little scared of moving quickly and risking big losses with kids going to college in the next 5 years.  Hoping to learn as much as I can and start to share information with everyone!!!