All Forum Posts by: Amul Sutaria

Hi BP family!

I go into BP about 5 years ago, and I'll have to admit, I wasn't very serious about it.  Now I signed up for a PRO account (does that make me automatically serious? lol) and my goal is to close 5 deals in 2019 (doable).    That's why I'm calling this a REINTRODUCTION... :)

I live in Northern NJ and I have access to a great HELOC of a family member. Now to put it to use to achieve my RE goals...

What I learned from Bryce Steward's amazing BP podcast episode is that he owns all his properties within 2 miles of each other.  I think that's super practical and sensible.  

I would like to start in an area and just try to continue buying if things cash flow.  My goals are to cash flow about $150-$200 on each unit. (Also, doable)

My New Jersey BPers, get in touch! 

I'm in New Jersey, feel free to connect w/ me. 

add me too please

@Lakhwinder SIngh Is this still available? 

Thanks Michael. Can you explain in more lay terms what you mean by "most lenders on the refi will allow 70-75% LTV?

 HAHA, i actually did. At that time I wasn't very serious about RE, and my family member wasn't really ready to help.  Now i got those two in line and I'm ready to pull the trigger.   I now own my own home, have a 7 month old... but wanna start moving toward ending the 9-5....

Hi,

My family member has a 250K HELOC that they are allowing me to use to invest in real estate. Would it be in my interest to use it to buy, say, a $200,000 property in cash, and then immediately refinance? I would want to buy and hold, or BRRRR. Do people do this kind of thing? I'm not so familiar what the steps are to do that, or the detailed mechanics.
I'm looking to cash flow $150-$200.  My realtor says that's pretty doable more west than Northern NJ and also in parts of South Jersey.  

Thanks Everyone! great info.

This question got posted twice somehow, please ignore this one.