All Forum Posts by: Robert S Struhala Jr

@Grace Green

Hello, my wife and I are in the Greensburg area. We have a few residential rentals and some commercial. I am looking to dig deeper in real estate myself. My father has been in rentals for about 30 years so I learned a lot from him. However, since I joined BP, I’m learning so much new information and I plan to make real estate my main focus. I haven’t joined myself but my father belongs to Acre of Pittsburgh. I do plan on joining as the membership is a tax write off for the business and there are a lot of benefits of being a member. BP is great but local support and knowing people who know this specific market and rules is important. Anyways, hope that helps! Here is a link.

http://www.acrepgh.org/ClubPortal/ClubStatic.cfm?clubID=1346&pubmenuoptID=18385

@Jaysen Medhurst

I did not think about the possibility that they may pull the funding. Very good thought. This is why I ask questions. What can I do to secure funds while I have a day job? Or should I just purchase a rental from the MLS? I just want to get everything I can while I can if that makes sense

Hello everyone! I am looking for some insight on a potential plan that I have come up with. My wife and I have a few rentals, all setup as land contracts. I currently work a day job which ties up a lot of time. I plan to invest more. We are very conservative and steadily set money aside. My proposed plan was to pay off my house with what I have saved and get a line of credit. My house is also on a land contract. I can pay off the 30k, and if I understand correctly I can borrow 80% of the value through the heloc which is much more than I have saved. Once the loan is secure I could quit my job and have time and funds available. Now, I’m always looking for privately funded deals but I feel that this would give me an extra form of funding if needed. My question is the process. If I pay off the bank, do the title work, how soon until I can apply for the loan? Is an in person appraisal involved? And is this all a terrible idea? We are just looking for the next step in our investing career. Thank you in advance for your input!