All Forum Posts by: Robert Peeples

Great post, thanks for sharing. Will watch closely to learn and enjoy in your success. 

I have 58k equity in my primary residence. I'm interested in using this to invest in more real estate. Considering the Jacksonville market, should I use some of the equity to buy an inexpensive property and rent it; or should I flip a property.

Who have you used for lending in North Florida?

Thanks for the feedback

thanks for the feedback

I want to flip houses. Could I create an LLC or Scorp, open a SBA unsecured business line of credit and use that line to finance the down payment and reno cost for the flips?

Background- I'm 28, work full time, married, wife works full time, no kids, we each have employer retirement plans that we don't want to touch. We own our home but no equity for heloc or collateral. I have no personal money to use to start the biz and I don't want to have to secure a hard money deal.

Thanks

@Craig Barnthouse Thanks for the insight. I'm impressed you did your first 2 rehabs hands-on to learn the process. Speaks a lot for your investment discipline. Keep up the great work.

@Craig Barnthouse Thanks for the welcome. Question-it seems Jacksonville is an ideal market for RE flipping since it's so large. Am I correct?

@Dmitriy Fomichenko Thanks for the info. I'll be sure to check those out.

@Elizabeth Colegrove Thank you for the welcome. Glad to know I'm not the only young investor around here. At this point, there's no way my wife and I could live off 1 income. I only take home 28k and she takes home less than me. One day we hope to reach the success you're enjoying. Thank you for the encouragement. I hope to experience the same success you're enjoying.

Hello BP!

I'm Robert, from Jacksonville FL. A little about me: Young, recently married as of March 28th, college educated, working full time in financial services,  and a brand new homeowner as of August 28th.

Why I joined BP: Investing interests me, particularly in real-estate. I've had this interest long before recently building my first home. But going through the process of building our first home only ignited my interest. I would love to start flipping houses. However, I face a dilemma. At the moment I have no disposable income and no cash to invest with.

To the point: I recently browsed success stories on BP to find someone in a similar situation as myself who has managed to see success, but I don't think I looked far and wide enough.... I would love to hear from others who are like me, or who have started from "the bottom" and worked their way into a successful venture of house-flipping/real-estate investing.

Thanks!