All Forum Posts by: Ryan Rogers

Is there/does anyone know: if there's a product where you can get a second mortgage or Equity Loan for the additional money you originally put in as a down payment? So basically 100% financing.

If there is then it seems like it would make the last (R)peat step far easier.

Thanks!

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Yeah I've been hearing the same, I just didn't know if anyone had experience with a higher percentage.

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Thanks for the response Curt!

My example to everyone would be:

Purchase Price/Appraised Price $450,000

20% down (90K)

Loan = $360,000

Is there/does anyone know: if there's a product where you can get a second mortgage or Equity Loan for the additional money you originally put in as a down payment? So basically 100% financing.

If there is then it seems like it would make the last (R)peat step far easier.

Thanks!

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Originally posted by @Account Closed:

Fear of poverty ! I was raised by folks who got paid $7.00 a week for my room and board when I was 7 years old, I saw them work long and hard, he drove a coal truck and she saved and counted pennies in order to buy groceries. I guess fear of poverty was a driving force for me, I knew I didn't want to work that hard and long to earn a living.

Joined the Army in 1959, I was 16 years old. Discharged at age 20 and started reading about real estate. Found a mentor, or he found me, showed me how to make money in real estate by buying really cheap houses in Baltimore at public auction. Learned lots about painting, plumbing, electrical, tenant management and working with my hands while going to public auctions everyday. Couldn't afford to pay contractors, had to learn and do it myself. (don't do that kind of work anymore)

I spent most of my money in the 60's buying tapes (remember tapes) and taking seminars on how to invest in real estate and creative financing. I am glad my wife had a great job, she helped to support my passion for real estate, I believe without her help I would still be working at a job.

My money came from several resources;

#1 The seller, if the seller could not help me buy their property, I couldn't buy their property. Creative real estate was my number one asset for making deals; I had no choice, I had no money, no credit------ but I had a passion and a desire not to be poor.

#2 credit card advances and credit lines later helped me control houses. I didn't know that much about flipping houses, so I just kept them and grew my net worth and built my real estate portfolio. To me, it was like a game or score card, every time I'd get a property I would calculate my net-worth, I liked to watch it grow. And it did using cheap properties purchased at auction.

Fast forward the clock, now at 73 years old, I stopped counting the net-worth thing, too busy doing deals developing commercial properties and helping others as apprentices to do deals. The money now is so much easier to make and accumulate.

Now own my own real estate auction company ----- isn't it great how a goal and a passion for something will materialize if you stick with it.

Charles

Great Story of resilience and a go getter right there, love it!

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Does anyone have any feedback/experience getting 100%, 90% LTV on a home equity loan? Refinance, Etc...

For Example:

If are in a high demand market where you cannot acquire a property under market value. But still want to apply the BRRR Strategy to recoup as much of your downpayment money + rehab money out so you can (R)repeat the buying process and expand your portfolio without running out of capital.

Thanks in advance for all responses.

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Does anyone have any feedback/experience getting 100%, 90% LTV on a home equity loan? Refinance, Etc...

For Example:

Thanks in advance for all responses.

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Annoying but move forward, stay strong mentally, Let is go:)

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Hey All!

Great to be apart of this great community. Just signed up for PRO and I'm excited to use all the great features and tap into the communities expertise. So Thank You all ahead of time for your time and responses!

I'm starting to do some flips with a friend as an investor. As I'm having some success his other friends want to provide additional capital into future projects.

I'm fortunate to have extra capital to do these deals but once the profit is split up 3 to 4 ways, the profit is considerable smaller.

Anyone have experience with this situation? And if so what are your thoughts on structuring the profit pay outs? Percentage on capital? Straight profit splits?

Thanks All!

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All Forum Posts by: Ryan Rogers

Ryan Rogers has started 16 posts and replied 92 times.

Post: BRRRR Strategy - I don't get it.. what am I missing?

Post: 100% LTV Home Equity Loan Experience Using the BRRR Strategy?

Post: 100% LTV Home Equity Loan Experience Using the BRRR Strategy?

Post: 100% LTV Home Equity Loan Experience Using the BRRR Strategy?

Post: 100% LTV Home Equity Loan Experience Using the BRRR Strategy?

Post: Where did you get your money to start investment

Post: 100% LTV Home Equity Loan Experience Using the BRRR Strategy?

Post: 100% LTV Home Equity Loan Experience Using the BRRR Strategy?

Post: Keep on fighting or give up?

Post: Flips with multiple Investors? Help