All Forum Posts by: Robert Dabicci

Thanks for the info guys

Hello, I am a new investor and was thinking I'd start with a single family home to wet my beak a little in the real estate game. However, when searching for deals I found a ready to go 4-unit that should cashflow for around $750 with 30% cash on cash return. Starting with a 4 unit kind of makes me nervous because I am inexperienced and I have a full time day job that doesn't allow much flexibility. However, if I plan on hiring a property management company should I really be any more worried about starting with a multi unit vs single family home? Should my main focus be the numbers of cash flows and return on investments and not so much on the work it takes to keep rented and maintained since I would be paying property management company for that? I included 10% property management fees in my calculations.

Thank you

Hello, first post on bigger pockets. I am just getting into real estate investing. I do not have much money to get started with because I was focusing on paying off some higher interest student loans first. I am looking at opening a HELOC to help acquire and potentially Rehab properties. The BRRRR strategy sounds great to me if I can find the right deals and secure enough money to get going. Now to my question.

I am opening a home equity line of credit for $30,000 which is the most I can get with my currently equity. I currently have an unsecured line of credit at the same bank for $23,000. Should I close my unsecured line which has a worse interest rate? The factors I have considered so far are that keeping it open will allow me access to more money if needed for something like a rehab without using my credit cards. However, I also don't know if having so much credit relative to my income will have an effect on my ability to get approved for a loan to purchase a property or a refinance option. I had read that even unused credit can be used to count as debt when determining debt to income ratio.

Thanks for any help you can provide