All Forum Posts by: Nephtalie Pierre

@Ryan Detig

Thank you for your detailed response to the process of getting a HELOC. Best wishes on the process you're going through with the HELOC :). I will call a bank to see if their process is a little different. Appreciate the advice.

@Matt K.

Thank you for that link I will definitely look into that.  The first two options look like they could be the best choice. Will have to weigh the pros and cons. I know that of both. Thank you for your response!

@Lana Lee  

Thank you for noting that. I will be sure to keep that in mind

Hello!!

I have a family member who paid cash for a house in Miami for 70k. The house is now worth about 250K.

I've never owned a home before and I'm trying to figure out the best way to use the equity in the home. This family member in particular is interested in real estate.

I was wondering if doing a HELOC would be the best way to use the equity in the home to purchase an investment propriety. (thinking more of Flips and BRRR).

These questions might sound silly but please bear with me as I'm trying to have all my ducks in the row.

I know a HELOC is about 80% of the value and they will have to show proof of income that they will be able to cover payments to qualify.

Since the house was purchased cash, does that mean they will have to go to a bank to get a HELOC? Will they now have a mortgage payment and then any interest payments for any money used for the HELOC?

If there is more then one person name on the house will both have to show income to pay the interest payments?

Has anyone invested with HELOC willing to share their experience?

Thank you!!

Neph

@Antoine Martel thank you for your response, i know he has read rich dad poor dad and has taken some of fortune builder classes. 

Hello!

I'm hoping this is the right forum to post this question. 

I have a very special someone in my life who I am dating and I've been trying to figure out a Christmas gift to get him. I'm looking for something that could be beneficial in helping)ng him further his business and end goal which is to build enough cash flow to quit his job and doing the real estate investing full time (typical BP goal right :) )

He normally does flips and has some buy and holds. He currently does well I think but there is always room for expansion and growth so I"m looking for something that can help take him further.

So for the active investors out there, I'm looking for either book recommendations or speakers who do seminars/live events that you truly felt made a difference in your investing career and you saw the growth and or change from that class or seminar.

Thank you in advance! 

Nephtalie  

@Michael P. I use chase home estimator to "run" quick comps to get an idea of what I'm looking at. I'll double check in Zillow and then if I can't get anything from either I will double check with my realtor.

I know https://www.sitexdata.com/ is a place I've heard people used but I think it's subscription based. Can't give any review since I've never used it. Hope this helps.

Nephtalie 

@rush hall thank you!

@Larry Higgins thank you for that advice. That's a really good idea!

@kristophergomez @Rolandpaicely thank you both for the advice 

Hello,

I just purchased a list of cash buyers in the area's I am interested in wholesaling in. I got a lot more on my list then I anticipated. I had planned on printing and mailing them out myself. But the list ended up being 398. So I'm debating on sending these to a company like click2mail to mail out. I was wondering how other wholesalers market to cash buyers.  Do you send out the mailing once every month for 5 months? Do you send out letters or postcards?

I plan on also posting some craigslist ads and doing some cold calling for cash buyers. Interested in learning how others are building their list. 

Thanks in advance :)

Neph

Thank you @Renee Harris I actually ended up reading through the forum and someone mentioned googling the descendents  name and obituary. In the obituary sometimes it will say where the person grew up and or last lived. Then I would Google the " 'cities name' property record" and  search their name through that cities database. I've been able to get 90% of the property address that way. Very few have the descendents address on the form.  Thanks for the response!