All Forum Posts by: Onan Dumas

Check your Real Estate License laws in your state...unless you are a licensed broker or salesperson, it is illegal in many states for a real estate agent to pay for an referral leads. So unless you are planning on getting your license or already have it, I would stay away from this.

@Jay Hinrichs

What my post was meant to state was that it all depends on which HML he speaks to. You as well as I know that all HML lenders are not alike, for better reasons or worse. I am not saying to him that he does not need cash, his original question was whether or not they could take investment accounts in consideration. I just happened to expand on my experience in that some might as well be bank of America and some of them might as well be my uncle doing business out of his bedroom. It all depends who he talks to.

It depends...Some will be ok with about 25k and will consider investment accounts. It all depends on which HML you are working with and how much red tape they will have. There are many HML's out there that I swear are a bank posing as an HML...what I mean is that some are about as conventional as they come and some are very loose. My suggestion would be calling at least 10 hml in Dallas alone and weighing them..

Sorry, what I meant to say was DM me with the info!

I will call them too, thanks for the referral. My guy canceled on me last minute so now I have work being halted because we are waiting on someone to do the foundation job!

@Kathy Armstrong

Do you have an updated number or website? Thanks again!

hmmm...says the number is disconnected when I call...

Anyone have any foundation repair contacts in the Fort Worth area? I deal in the Dallas area only and need someone in Fort Worth that is reputable and does good work. Any help would be appreciated. Thanks!

Oh darn! I just had something come up tomorrow night too...oh well! Have fun and happy learning!

It's a beautiful thing because you can leverage at a usually low rate from a heloc or a cash out refi...your payments also usually don't go considerably up unless you are taking out a considerable amount. And the best thing for me is, when you take out cash from Equity you are theoretically acheiving larger cash on cash returns. Think about the down payment you did if you financed it, 20k for example. If you took that 20k back then you are getting a 100% cash on cash return. You basically financed that place with 0 down because you got all your money back and more if you take more out. Further more I will definitely do it if I can achieve a $300-500 cash flow while only raising my payments on my house by not much.