All Forum Posts by: Sam Guertler

@Stephanie P. thanks for the insight. I need to study up on a heloc!

Hey everyone. I'm eagerly trying to plan paths to getting into real estate investing, and I'm thinking that refinancing my current home to decrease the monthly mortgage (and increase cash flow) and then renting it out is the best approach. I would then find another house, use a conventional or FHA loan and move into that as my primary residence.

I currently have a 30-year note with a 4.25% rate and roughly 60k in equity. 

Can anyone tell me if my approach makes sense? If I'm missing any fundamental aspect (I'm sure I am)? What I should know before I initiate conversations with a lender? 

Looking for any and all tips/advice. Thanks!

When is the next meeting? I would like to attend!

@Julio Garcia @Steven Foster Wilson 

that all makes complete sense. and I imagine when you have rapport, that makes the conversation flow that much easier

I'm wondering if anyone has any tips and tricks for pursing homes off the MLS (or Zillow for that matter). What I do currently is walk around neighborhoods and look at houses that need some TLC and look at houses that have been listed for rent for a while. I'll then look up who the owner is on country record pages, but that's about as far as I get. If I were to contact someone and someone if they were interested in selling their home (that isn't currently listed), does anyone have any strategies that have worked? What did you say and what questions did you ask?

Thanks in advance. 

2b/2b buy and hold property

estimated 5% vacancy and 7% for repairs and vacancy each. pulled tax and insurance numbers from zillow. 

View report

*This link comes directly from our calculators, based on information input by the member who posted.

@Will Fraser makes complete sense. Looks like you're in the OKC area. We can connect off this thread, but what are your thoughts on the Scissortail park area where they are expected to expand south past the interstate?

What are everyone's thoughts on purchasing land where city development is scheduled to occur? For example, a downtown park is scheduled to expand in a few years and there's a house within a few blocks of the expected development for sale. The house on the lot needs a tremendous amount of work, so it seems like the value is in the land. I'm under the impression it's not a sound strategy to buy and hope for appreciation, but I wanted to get other's thoughts.