All Forum Posts by: Timothy Allen

 Yes he is. He does very good work and is the most honest person I know. I know they say don’t mix friends/ family and business which I understand completely

 Great advice. Thank you

Hey everybody I'm a new investor as in I haven't bought my first investment property yet but am planning on it. I'm in the process of waiting for my appraisal next week to get a HELOC on my primary.

My question is I have a good friend who's a contractor and he's mentioned to me he's thought about getting into investing for quite some time now but had been too nervous until he heard me talking about it with him. I'd like to get into something that I can build equity enough to re-finance and pay my heloc off. What are some ways I could possibly structure a deal with my friend where I finance the purchase and he does the work to rehab it?

One way I think of it is he quotes out his work and what every percentage gain we make off the purchase price we'd add to his quote? Just a thought. I've done some searching on here but haven't been able to find a similar example so if you know the links to other threads I'd appreciate it or if anyone else had done something similar. thanks

@Daniel K Houck you should be the guest that your mentioning not seeing on the show!! Figure out the way make it happen then be that "Average Income with a Family Guy"

 I thought about that as well. Interest rates are climbing and I'm locked in real low on my primary. I'm also worried about starting a new mortgage all over again as I'm at the point where I'm paying less interest and more principal due to my amortization schedule. I'm not sure if that's the right way to think about it or not? 

Hello everyone!

I wasn't sure what category to ask my question so what better way than in the Starting Out thread, lol. I am in the "learning" process of becoming a first-time investor and have recently made my introduction on the welcome page.

There's a property in my local neighborhood that was been semi vacant for the last few years as I drive by it every once in a while.  It wasn't until learning real estate investing strategies and hearing about sending out letters to owners of rental or vacant properties asking if they'd like to sell that this property came to mind.

So my question is this: I looked up the property on my local assessor's website as I've done a few of these already and this one showed up with two names under the owner. The first name is a real estate company followed by C/O and regular name. What is this telling me from your experience? Id figured Id reach out before beginning to possibly send a letter. Thanks in advance

Tim

Hello,

I'm from Northfield, Ma and have been lurking the forums for a little while now so figured I'd make an introduction to see whos near me in Franklin County. I've been reading and learning as much as possible about investing and have been saving for a down payment on my first investment. Id like to find Investor friendly agents local to me if possible. I am about 45 minutes west of Springfield. I've been running calculations on multifamilys around the Greenfield area and just recently have been finding a few cash flow property's so I'm thinking its time to go talk to a few local banks about preapprovals. 

I have quite a bit of equity built up in my primary so I've been trying to read up on pro's/con's of using a HELOC for the down payment as long as the property cash flows including the HELCO payment. Has anyone used this strategy?

Hope to hear from anyone local.

Do you mean using a HELOC on your primary for a down payment on an investment? I'm looking into this as well. Do a simple search here in the forums as there's a lot of discussion about it