All Forum Posts by: Sean Witherspoon

@Bob Woelfel thank you for discussing your experience.  It will definitely help me make a more informed decision.

@Bob Woelfel and @Frank Wong thank you guys for the replies. Something I forgot to say is that I will be moving over the next few months as well and will be renting out my current residence. And yes, my plan is to refinance and rent out the properties. My thought process is that with the HELOC, I would use it as a down payment for 2-3 properties. Since I will be moving, my chance to get the HELOC for my current residence will soon end.

I am new to real estate investing. I am planning on buying my first rental over the next few months. I do not have much to start with. I want to utilize the BRRRR method of investing. I am planning on buying properties around $40,000. I have $10,000 for a down payment, which meets the 20% that most hard money lenders ask for when lending to new investors. On my primary residence, I have about $35,000 in equity and a lender that will give me a HELOC for up to 95%. My question is: should I use my $10,000 that I have saved on a property down payment or should I put it to the principle on my primary residence so that I can take out a larger HELOC to use for down payments? Thanks in advanced for the advice!

Hi, I am also a new investor in the Augusta area. I have a lot of the same questions that you guys asked. I would love to meet up with some of you guys. I currently live in Grovetown. 

I am in the same boat Chris.  I am stilling pursuing my first property.  I am looking for single family.  I also live in Grovetown.  What real estate meet up groups have you researched?

Congrats.  I also live in the Augusta area.  I am looking to buy my first investment over the next month or 2.