All Forum Posts by: Reynaldo Tello

I have a house paid off,and it's not worth much but I'm sure I can get a heloc of about 30 to 40k.I want to invest in rental properties,as it is my freedom number is 1200 dollars per month.I know that is not a lot but anyways I'm thinking about either buying 2 seller finance houses at about 40k each tenants in both houses,rent around 5 to 600.The other option is use a heloc and buy me a 30k house,remodel with hard money and rent it.hard money about 10k.what is my best option when the 2 houses will cash flow about 150 to 200 each or is there a better way to do this?Please I need some advice thanks.

thank you,here in my area there are some houses that will go for 20 or 30k cash and that need some cosmetic work which I can do since I'm pretty handy.I was just thinking about buying 1 of those houses with my heloc then repay it back with the rent money since rents are about 700 for a 3bdr 2 baths.I think I did the math right and I would end up with like 150 to 200 positive cash flow and if this works I don't see why it wouldn't work with the 3rd 4th and so on...is this a good idea or is it just me thinking this way is a way yo financial freedom. I'M 29 and I only have about 40k on equity since I'm done paying for my house. All ideas are welcome please give me your thoughts on this thanks....

Can I refinance even when I pay cash for the property?isn't this the same thing as getting a heloc for the 2nd and 3rd house and so on?

Hello everyone I have a question I've been wondering about and I can't seem to find the answer I need from Google.So my question is,could I get a heloc on my first house since I'm done paying for it and then buy another house cash with that money and then do the same thing with the 3rd house and so on or are there some set backs or is this even possible. Pros and cons? Would they need a certificate of occupancy from the rentals when trying to get heloc? Thanks everyone...

thanks I guess I have a lot of searching to do if I want to find a house that is cheap and not too much work...thanks everyone

Hi everyone I'm a newbie and I would love to invest in real estate.I bought my house as seller finance deal just finish paying it and I think that I should at least be able to get 40-50k on a heloc.I really want to do the brrrr strategy with a fixer upper but I have no idea about how to go with the rehab.i worked in construction hanging drywall before but I just have no idea on how to go about the permits,inspections and all of that. I basically need help with all the process I'm just trying to have the courage to actually make this happen. Thanks.              

Ok thank you very much that helps out a lot.

thanks Antoine. How do i know what to offer to the owner of a vacant house if I haven't been on the house or how does this process work?

Hi everyone so as I keep thinking about starting real estate this question came up. If I'm driving for dollars and I see a vacant house,how can i tell how much is worth,how do i find how many rooms and sqfeet.it has and what repairs need to be done if i cant go in the house?I dont even know how i can do comps like that and i dont have access to the mls?would the county records have all that info about a random house that i just happened to drive by?thank you guys sorry if this is a long question but I just need a lot of help.

Thanks everyone