All Forum Posts by: Paul Lange

Thanks for the tips I had been in talks with the local realtor who helped me find this place. We talked about listing for actually just under what the max offer in the letter is, that is what makes it interesting.  It was higher than the last unit here sold for in January. 

Hello,

I have recently started listening to the BiggerPockets podcast and love it.  I've already learned so much in my short time and am putting my ducks in a row to make a big time decision.   As you say - there is nothing without ACTION! 

Two years ago I purchased a town home in a booming area in Nashville, TN.  My intention has been to live here and then rent it out when I am ready for a more permanent home, as it is in an area with high demand (including a pool and workout facility).  However today I received something  very interesting in the mail, a letter to buy my property.  I have about 100k in equity in the home right now based upon their MAX offer as stated in the letter.

But here is the kicker, do I want to sell? I within the last week received approval on a HELOC based upon strategies I have heard on the podcast with the intention of trying to flip a home and get my real estate career started. I recently found a partner in the area to work with and we have been searching for deals and discussing how much money we would be willing to put together.

What would you do, is this a good problem? Take the cash and forget the HELOC or keep it as a rental for the future and leverage myself further? If I sell do I need an agent? Do I pay commission for somebody coming to me to buy? Thanks for the help you all are great!