All Forum Posts by: Shawn West

Hi BP's members. Just wanted to finally introduce myself. I have been on here for about 3wks now reading and listening to podcasts. Thought it was time to say hi. 

My name is Shawn West and I'm from Beloit Wisconsin. I have an amazing wife and beautiful 9mo old little girl. I have been a Firefighters/Paramedic for the past 13yrs and continue to love what I do. I like the fact that I always have an income and health insurance for me and my family no matter what happens in my real estate life. I have been dabbling in real estate for about 10yrs now but just recently decided to get more involved. I currently own 4 houses and would like to expand that to double digits along with possible larger units. The houses I have now have always produced for me so I can't see any reason why not to continue.

I've started really learning everything I can about 1yr ago and continue that venture. I am looking for a mentor, investors, partners and anything that can expand my network. If there is anything I can do to help others I am an open book. Hope to find great friendships here and continue my pursuit real estate.

Thanks for reading. Any colleague requests are welcome.

Shawn West

Couldn't you just refinance with another institution which would pay off that loan and create another under your LLC? Or am I completely wrong on this ability?

Hi, for a simple answer yes this is possible but it definitely sounds easier than it actually is. You can get equity loans but only 70-80% of the value depending on where you are. Also keep in mind you will max out loans at around 10. The next big thing to think about is actually living in these houses while your rehabbing them. Sometimes that's tuff enough in itself. Guessing you are a single person because I know my wife wouldn't go for it. Also are you capable of the rehab yourself or are you hiring out. Just some of the things to think about but yes it could be a good way to get started. Good luck