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All Forum Posts by: Tyler Pfaffenbach

Tyler Pfaffenbach has started 2 posts and replied 8 times.

Post: Newbie from Lewisville, Texas

Tyler PfaffenbachPosted
  • Lewisville, TX
  • Posts 8
  • Votes 3

@Troy Ramey Excellent! Thanks for the info. 

Post: Newbie from Lewisville, Texas

Tyler PfaffenbachPosted
  • Lewisville, TX
  • Posts 8
  • Votes 3

Well I have to say it sure is nice to see some players in my area doing well and making moves. I appreciate the warm welcome, too. 

I see a cup of joe in our futures!

Post: Newbie from Lewisville, Texas

Tyler PfaffenbachPosted
  • Lewisville, TX
  • Posts 8
  • Votes 3

Haha, I guess I am a youngin' then! Either way, I enjoyed Marcus. Yeah let's connect. 

Post: Newbie from Lewisville, Texas

Tyler PfaffenbachPosted
  • Lewisville, TX
  • Posts 8
  • Votes 3

@Trevor Reed, @Marc Tuckey Fellow Texans! What's up, guys. 

Marc, I actually grew up in Highland Village near Flower Mound and went to Marcus H.S. (2005)

Post: Newbie from Lewisville, Texas

Tyler PfaffenbachPosted
  • Lewisville, TX
  • Posts 8
  • Votes 3

I didn't always live in the great state of Texas. I moved around a lot as a kid, so I'm used to being the "newb" in school and the community. Growing up this way wasn't always ideal but there was one thing that I saw that many children probably never do; an inside look at Residential construction. 

My name is Tyler Pfaffenbach. I'm a homeowner, a new husband and a passionate artist and builder. My parents are divorced since I was 2 years old so I grew up with my mother, step father and younger sister. My step father used to work as a Buyer for K-Mart (anybody remember them!) and at times that job came with relocation. 

During these relocations I was able to see many new housing construction projects specifically for the purpose of us buying one of them to live in. I remember visiting all types of homes but the most memorable were those that were still in the framing stage. My sister and I always played the "pick your room" game and would run as fast as we could up the stairs or through the hallways to pick the biggest room. 

Looking back now after owning my own home I can see that these experiences allowed me to see the before and after of a home. So I guess you could say I have been a part of Real Estate since a very young age! Pair that exposure with an innate passion for designing and building things and you eventually have someone who is eager about owning Real Estate as an adult. 

I'm currently a full-time Graphic Designer/Illustrator/Photographer/Videographer – I wear many hats! I'm a certified sUAS Drone Pilot, Scuba Diver and avid pocket knife collector. I bought my first home a little over 5 years ago for $89k. It's a townhome with a detached garage built in the mid 80s that was (and sometimes still is) an ugly duckling; but I love her. She (the home) has since raised in value to over $150k to which was the nail in the coffin for my love for Real Estate. 

This set me out to find more information. I started watching videos, following investors on social media, listening to audio books and eventually actually reading books (wow!). The last book I read was 'The Book on Rental Property Investing' by the great bearded Brandon Turner of BiggerPockets (What's up, dude!). I have to say that Brandon's enthusiasm, positivity, quality advice and teaching delivery resonated with me and had me wanting more. 

So here I am, the next step – introducing myself to a bunch of strangers on the interwebz. I don't know where to go from here or how to get there, but as Brandon once said, you have to go as far as you can, then you'll be able to see farther. My goal is simply to go farther, be educated, have fun, meet people and, well, make some money through Real Estate!

Thanks for reading :)

Tyler

@Josue Vargas All great points, thank you! I appreciate the direction because I am a bit nervous to start this journey. I am one of those people who does my homework and then overthinks to the point that I never actually take the leap. I don't want to be that guy. I'm 32 with no kids in a good situation and I really want to look back when I'm older and be happy I took the risk(s). 

Thank you for the advice! I like the HELOC idea if the rates were to be low.

Hey y'all! My name is Tyler Pfaffenbach. I'm a new member here on BiggerPockets and this is also my first post. I'm very interested in Real Estate Investing and have read a couple books on the subject (one of them being 'The Book on Rental Property Investing' from BiggerPockets' Brandon Turner) but I have yet to officially start investing in anything...sort of.

I currently own a Townhome that I bought 5 years ago that's worth much more than I paid for it. Full transparency, I owe $90k and it's worth roughly $150k. Since I acquired the home I've put a lot of work into it; built a covered patio, rebuilt the fencing, remodeled bathrooms, general up-keep, etc. It's an older home, built in the mid 80s and needs some more work (but not much) to get it to the full potential value, which I plan on doing. 

So with that said, you can see I have a couple options to further my investment(s), and that's where I thought my community could give me some advice. I honestly don't know what to do from here. I've thought about approaching a cash-out refinance and using the cash to invest in other properties, but that would cut into my cash-flow on THIS property being that my mortgage payment would increase. I could HELOC on the house but would be adding more debt that way as well. I could buy a new property with an FHA loan and rent this property out as-is and slowly save the rent checks while BRRRR-ing the new property I'd live in. Or I guess I could stay, save and invest later, ultimately delaying my wealth.

So without dragging this dissertation on any further, if you were in my position, what would you do?

-Tyler