All Forum Posts by: Tyler Fischer

I would love to hear your thoughts on how you see the interest rate hikes impacting the above analysis. There are so many interesting factors right now that we have not seen and navigating this environment will be tricky.

Would love to hear your thoughts.

@Reden Dionisio I'll answer your second question first. The short answer is no, if your loan gets sold whether you Cash out or have a HELOC will not make a difference.

When deciding between a HELOC and a Cash Out Refinance I always consider what am I going to do with the money. Each of the options have pros and cons and you need to consider your plan before choosing an option. Below I have some quick thoughts on why I pick one vs the other.

Heloc: its a line of credit so its great for short term uses. I currently use a HELOC in my flipping business because I know the time horizon of the capital is short. Most heloc are adjustable rates so if you lock in the money long term there is the potential of the interest going up.

Cash Out: You pay interest on the full mortgage plus the cash you take out. If I do a Cash out I generally want to know I have another long term vehicle where I can reinvest the cash.  When you cash out typically your cash flow will decrease but if you can buy another asset then the net of the 2 is a gain.

Hope this helps in your decision. I'd love to hear which one you choose.

@Shay Nolan  How much research and self education have you done so far? When getting started educating yourself is the most important step. Real Estate is an investment and you don't want to jump in blind.  I agree with Alecia, if the numbers work and a property cash flows then the price isn't as important. If the returns are where you want them and you're comfortable with your underwriting then you have to take action.  If you need any recommendations on books I have a stack of them I would be happy to refer you.

@Jeremiah Maddox have you joined any Charlotte investor facebook groups? If you message me I can give you a few I am in, which always seem to have investors posting meetups and helpful information as well.

@Lukas Rohler Lets connect man. I'd love to hear more about your journey and what you've got going on.

@Edward Moore I know alot of people use harry marsh as their closing attorney and they offer some free contracts on there website. I would check them out.

Hey @Nine Zero Five,

Do you need windows installed or just windows?  I have someone who will buy and install and they're very reasonably priced.

Isn’t the concern not from the appraisal but instead the lender being willing to offer a mortgage on the home? Have you called any lenders and asked? I’m sure there is one that would be fine with it. You could try to negotiate the seller to carry the note for a month or two while you clear it out and secure financing. 

Hey man, I’m in Charlotte too. What kinds of properties are you investing in? I am looking to buy my second and third rental this year. Always nice meeting other investors in the area

I am renovating a spare bathroom and I am trying to decide if installing tile in the tub area will be worth the extra costs. Based on the estimate I’ve received for the work installing one of those prefabricated liners in the tub will be roughly $700 less. Do you guys think it is worth it to install tile?