All Forum Posts by: Steven P Daugherty

I'm looking at getting my 2nd deal which would be my first multi-family unit. We found a market that fits our criteria - side by side du-quadplex at <$200k. To finance this property, I was going to do a HELOC on my primary residence in NC. The market we want to invest in is out of state. I was thinking about talking to a local bank here on performing a HELOC than working with a lender in the market I'm looking to invest in. I don't have a lot of initial capital of my own, so I would need the terms to make sure that I don't have to start paying back right away.

Any terms and conditions I should be looking for in the HELOC? Any tips in this type of scenario? Anything I should be aware of if I did this?

Thank you in advance!

Hi BP Fam!

We are real estate investors who are looking to create collaboration/relationship with an experienced real estate agent/team and a property manager in the Winston Salem, NC area. Experience with commercial and multifamily units. 

This is an area we're looking to grow our portfolio so potential to create a long lasting relationship. Hope to hear from you soon!

Steve and Eileen

Hi @Mitch Davidson,

My wife and I are active members of CREAI here in Asheville, attending BP Bootcamps, and looking at doing our 2nd rental via HELCO. We'd love to connect with a BP crowds here in Asheville. Could we be added to the invite list?

Thanks!

Steve

Hey BP!

I have a client who lives in Cambridge, MA and is looking to purchase their first home. They'd like to house hack their home as a means of starting into real estate investing. They're looking for a single family home, budget $500k, and aiming to house hack a room to medical interns, residents, traveling nurses, etc. They're looking to utilize a physician loan to purchase their home. Does anyone know of an experienced realtor who has dealt with this type of loan to help my client? Looking to buy in the next 3-6 months.

Thanks!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $250,000
Cash invested: $2,500

My wife and I invested in our first short term property in Lake Junaluska, NC. It was a previous rental when we bought it. We negotiated the furniture in the price and used some of our older furniture to update the decor. The location has visitors year round and has been an overall great investment so far.

However, we're wondering how we can go about getting our 2nd property in the most cost effective way possible. In November 2021, we sold our home in Florida and used the profits to purchase our primary residence and our investment property. Our goal is to get 2 more this year, but we're stuck on how to build the capital for those down payments. Right now we're using the profits we currently are receiving from this rental to build our emergency fund for it. Any guidance is appreciated!