All Forum Posts by: Stephen Lock

Interesting perspectives all around.  My biggest question about using OPM is the process for paying back the original lender:

For instance, if I use a PML to fully fund the acquisition and rehab, then the project finishes and I acquire a tenant.  Then I do the R/T refi, does the bank taking on the loan pay the PML directly or do they cut me a check to give to the PML?  

Just trying to get the whole process in my head.

Thanks Michael!  I'm looking at it right now.  So much to have to learn and I feel behind the eight ball in my investing (I'm 34).  I really wanna get my foot in the door and am itching to find my first deal, but not sure how to go about obtaining funding.

Hey all! I have been doing a lot of reading on the site concerning the BRRRR method. Considering where I am in my life (early 30's, wife, child and house), this is the strategy that I have chosen to follow in my adventures in REI. That being said, is it a usable strategy if I were to start my first property using OPM or is it better to use my own money? I have a significant amount of equity in my current home thanks to a hot market here in DFW, and I also have a little bit (less than $10k) in savings at the moment. I really want to get my foot in the door before the DFW market starts cooling down, as well as meet my goal of two properties by 2018. Thanks for all you guys do on this site and looking forward to any help available.

Good morning everyone! Complete new person to REI, who really wants to get in the game, but am struggling to find out where to begin. I am in a very hot market right now (Dallas / Ft. Worth area), and would like to be able to get my foot in the door before it peaks. I am definitely in the market to do Buy and Hold using the BRRRR strategy. Anyways, looking forward to getting to know all of you and learning as much as I can while sharing my escapades with you all!