All Forum Posts by: Sean Starkey

@Jeff Shumway

When you say to make sure that the deal I purchase makes enough money every month to cover my primary mortgage and mortgage of actual investment what do you actually mean? Our current mortgage is 2.75% rate and 3700 per month.

Thanks!

@Kamil Baldyga

Hu Kamil! So how do I leverage it for other properties and I hear HELOC has variable rates and has high interest. How do I get out of that quick to pay it off? Or is that how it works?

@Jeff Shumway

Hi Jeff so you're saying I should take money out of the house? Talk to me about what happens when you refinance. Do you just get a lump some of money and your mortgage rises and interest rate rises? And also I need to pay closing costs and hopefully no points. A better question is what exactly happens when you refinance

@Joe Splitrock

Thank you so much for the advice! I need to find a different way to get into investing it sounds like. Maybe just saving up for a year to be able to put cash down because I would like to use the BRRRR route. I am learning about this method right now using David Greene's book. Any recommendations on how I should get the first property? I want to get a duplex and start in multifamily

How many out there have refinanced their primary residence to get a down payment for their investment property? We have had our house since January of 2021. Homes around us are selling for low 900s and we have 647k remaining to pay on a conventional fixed loan. We got a great deal on the house. Do we refinance to get our down payment to start our investment journey who else did?

@Bradley Dosch

Got it so I need to find an investor and lender first! Perfect!

@Ehlen Baylon

Wow that is so great! I actually really like Big Bear as well how is the market up there? I would like to connect to learn more about how you started! That's great that you have 2 houses in HB

@Tanvir Sattar

Thanks!! Yes that's what my wife Nd I are thinking. Maybe Arizona. WhaT are your thoughts?

So my wife and I have been reading, listening to podcasts and learning everything about real estate that we can. We are in medical field as a physical therapist and a nurse and are looking to build our portfolio to gain financial freedom. We are stuck where to start. We dont have any money down but do currently own home in Huntington beach, CA. We just paid our supplemental tax bill so that wiled our savings away quick. Shouod the first step be to find a property and run the numbers then speak to a lender or the reverse? Please any help will be awesome!

Thanks!!

@Bud Gaffney

Thanks for the reply how do I go about doing this and what are some things to be aware of?