All Forum Posts by: Roderic Baker

Thank all of ya'll for the advice.

Hey guys I'm in a bit of a pickle, I'm finally ready to invest in real estate, part of me wants to sell but if I can refinance and move someone in that'll be cool too. Here's a little history I bought my home back in 2014 as a foreclosure at 159k, I currently owe like 123k. My real estate agent believes I can get 270-280k with how the market is now. It's in a great neighborhood and the schools are good also here in Denham springs La, my agent and I have history we actually went to High school together. I consider him a good friend, he actually helped me find this home in 2014, he also invests in real estate. He told me that either way I go its a win. My plan was to take the money from selling the house and use it to pick up on some of these foreclosures that's about to hit the market, but if I can refinance the house and use my current home as my first investment property that would be awesome. When I bought the home my interest rate was/is 4.25% he told me if I refinance at 2% my note would go from $1200 to around $800, and I could probably get around 1600 in that neighborhood. I'm actually moved out of the home now and I've been doing some renovating. Any suggestions will be appreciated. Thanks.

Hey guys I'm in a bit of a pickle, I'm finally ready to invest in real estate, part of me wants to sell but if I can refinance and move someone in that'll be cool too. Here's a little history I bought my home back in 2014 as a foreclosure at 159k, I currently owe like 123k.  My real estate agent believes I can get 270-280k with how the market is now. It's in a great neighborhood and the schools are good also here in Denham springs La, my agent and I have history we actually went to High school together. I consider him a good friend, he actually helped me find this home in 2014, he also invests in real estate. He told me that either way I go its a win. My plan was to take the money from selling the house and use it to pick up on some of these foreclosures that's about to hit the market, but if I can refinance the house and use my current home as my first investment property that would be awesome. When I bought the home my interest rate was/is 4.25% he told me if I refinance at 2% my note would go from $1200 to around $800, and I could probably get around 1600 in that neighborhood. I'm actually moved out of the home now and I've been doing some renovating. Any suggestions will be appreciated. Thanks.

Ok thanks guys for the insight 

Good evening, I’m a newbie but I’m ready for action, my father and his brothers it’s 4 of them where left 78 acres of land in Georgia from my grandmother. They’re in the process of getting it sub divided in the next month or so. My father even mentioned that one of his brothers may sell his share of his portion of the land to him once it’s divided up. My question is, will banks allow me to leverage the value of the land like a heloc or do you guys think it’s a good idea to even try to do it. My dad already told me that he’s leaving the land for me so I’m thinking I might as well use it to help me get started with real estate and not just let it sit there. Any help or ideas are welcome thanks.

@Jacob Gelinas I feel the same way man