All Forum Posts by: Ted Felsberg

Hey @Killian Ankers

@Killian Ankers

Hey!  That’s awesome to see some people in my area investing. I’m also just getting started. I’ve been on an education binge for about six months. I’m just starting to get out there and looking for deals. I would love to connect with all of you. 

Also I live in Mays Landing  and I would love to come to that meet up. I’m going to message you. 

I'm newer here but from what I've read here is a scenario that might work. I don't know the market prices of your area but let's say you found a house that cost 200k and need 40k of rehab. If you found a hard money lender or private investor to cover 150k you could then use some of your heloc towards the 200k purchase price and then the rest to cover rehab costs. Then when it's all done get a traditional mortgage and repay your lender and your heloc. I believe this plan would work very well if the ARV was 300k or higher. Like I said I'm new here so check that with someone who knows lol.

Hey Elvin! 

I’m very new to real estate investing and new to BiggerPockets. But I did hear them say on the Podcasts that they try to find the data on different cities to see if the population is increasing or decreasing. Also doing studies about unemployment percentages and job growth etc. I’m still trying to find the best places to do this research. Good luck with your first deal!

Thanks everybody! Great answers. I guess I have to figure out my goals before going that route. Thank you for the knowledge. 

Hey everyone!! I’m new here and new to investing. This is actually my first post!

So here is my question. I have listened to over 300 of the podcasts, I've read dozens of books, and gone to a few meet ups. I haven't heard of anyone talk about paying down a mortgage early. I assume it is because the math dictates that there is a better option for using my 200-300$ cash flow for something else. Now after saving for CapEx, vacancies, emergencies etc, what's wrong with me taking that $300 and paying my mortgage down? All I keep thinking about is taking a 30yr mortgage down to a 15yr and saving a ton on interest. Or getting it down so low that I can use a heloc to pay it off early and just make the heloc payments. Then when I am 100% paid off I can borrow against that property for other investments.

Is there something that I am missing?

Thanks in advance!

@Mike Bonadies That's good to know. I am just starting out and researching areas that are best for brrrr in South Jersey. I live in Mays Landing and I have a few friends that are doing well here. I would agree that Marlton and Cherry Hill are very high in taxes. I've also been looking into out of state markets because of NJ taxes. 

Hey everyone! I'm a newbie and excited to meet and network with you all.