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All Forum Posts by: Sean Martin

Sean Martin has started 2 posts and replied 16 times.

Post: If You Never Want To Hear About Columbus In the Forums Again, Reply Here

Sean Martin
Pro Member
Posted
  • Posts 17
  • Votes 7

Hahahaha! 

Post: What's the deal with HELOCs?

Sean Martin
Pro Member
Posted
  • Posts 17
  • Votes 7
Quote from @Hannah Tucker:

HELOCS sound good in theory but after listening to Dave Ramsey's podcast, I've heard them shutter at people using HELOCS to finance. I am in a real estate class currently and the professor posed HELOCS as a positive so I'd like some outside feedback and see some differing views about this subject.

Thank you!

I would take anything Dave Ramsey says about real estate with a grain of salt, personally. When it comes to pinching pennies and building budgets he is really good but that’s about it. 

Post: BRRRR in a remote market - DIFFICULTIES??

Sean Martin
Pro Member
Posted
  • Posts 17
  • Votes 7

The book long distance real estate investing by David Greene answers just about all of these questions. Good luck! 

Post: Single Family Short Term Rental in Fayetteville, NC

Sean Martin
Pro Member
Posted
  • Posts 17
  • Votes 7

Very nice! I have an LTR in the city. How is the demand for short term rentals there? I imagine pretty good close to Fort Bragg with all the families and friends coming to visit those stationed there? 

Post: Single Family Short Term Rental in Fayetteville, NC

Sean Martin
Pro Member
Posted
  • Posts 17
  • Votes 7

Post: Does this deal make sense - another set of eyes please :)

Sean Martin
Pro Member
Posted
  • Posts 17
  • Votes 7

For me it would be a no. 

Post: 1% rule possible in this high market?

Sean Martin
Pro Member
Posted
  • Posts 17
  • Votes 7

Yes. Just closed on a deal that meets the 1%. 

Post: Loan on Paid-off Property

Sean Martin
Pro Member
Posted
  • Posts 17
  • Votes 7

Awesome! Yeah, the rates a tough one. They will give you a loan but usually the rate will be high. Mine is above 5 percent. But I still cash flow nice on the property so it was worth it. 

Post: Loan on Paid-off Property

Sean Martin
Pro Member
Posted
  • Posts 17
  • Votes 7

Yes, definitely. I used a company called LendingHome. They only do rentals, no primaries. There are some other ones too, LendingOne I believe is another one. I know LendingHome only can do loans in certain states, LendingOne may have more. 

Post: LendingHome or Lima One Capital for a cash-out refi?

Sean Martin
Pro Member
Posted
  • Posts 17
  • Votes 7

Just finished a refi with Lending Home. Definitely recommended!