All Forum Posts by: Tyren Robinson

@Michael Smythe, thank you very much for your response and feedback. I will take your advice and do more networking. I figured it would be easy to find investor friendly contractors/handymen with search resources, but I have been sadly mistaken. 

@Ken M., thanks for the candid feedback and setting the truth straight. 

I paid for a REI mentorship program. As I am working through all the aspects of the program, I realize I need to find investor friendly contractors or handymen as a part of my team. However, I don't know where ti begin searching. I thought Facebook would be an option, but either I am too green to understand the process of engaging a contractor or they were not really interested in working with me. Any advice would be greatly appreciated!

@Michael Smythe, thank you for the feedback. I didn't think about it from this perspective. I have been frustrated, because I assumed it would be much easier to obtain a HELOC.

@Chris Seveney, $270K owed $400K estimated appraised value, however that was three years ago. Thanks for the feedback. 

@John Williams, thank you very much! I have a Fortera credit card with my highest credit limit, but never entertained the idea of a HELOC from Fortera. I truly appreciate the feedback. Additionally, I hope to be able to connect with you if possible.

@William Whitley, thank you for the information. I assumed it was as simple based on content I have been consuming all these years. I appreciate the feedback for me to know this is a normal occurrence. 

A lot of information within the real estate space sounds good in theory, but the application seems more daunting. I own a SFH rental property in Clarksville, TN, and have been trying to obtain a HELOC on the property. I reached out to several banks and was informed I cannot get a HELOC, because the property is a rental. There is about $120K in equity I want to leverage. The mortgage is $1,470 and I have been renting the property for $2,300 for the last three years. I assumed this would be beneficial to me obtaining a HELOC, but it has not been favorable in my quest. Does anyone know of a lending institution that does HELOCs on rental properties? Any information provided would be greatly appreciated.

Hello Vanessa. I joined the Alamo REIA and the REIA has different scheduled meetings throughout the month. For instance, there is a Lunch and Learn meeting the first Thursday of the month with the next one occurring Feb 6. Alamo REIA also hold events trying to connect individuals from different specialties within the real estate investing space. On Feb 11, a meeting will be held for investors looking for deals. Here is the link to the calendar for you to get an idea: https://www.alamoreia.org/Calendar.aspx

There is an annual fee to become a member of a REIA, but you don't need to be a member to attend certain events. Some events are free for members, while non-members will need to pay. However, members can invite guests to attend certain paid events so the guests don't have to pay.

I also attend the San Antonio REIA (SAREIA) lunch events. It costs $10 to register to attend the events, but your attendance comes with an all you can eat buffet at The Asian Star Buffet. It's a very good buffet and it normally costs $13-$15, so it's a small discount to get some good food, learn, and network. Here is the link to SAREIA website:
https://www.sareia.com/ 

I hope this helps. Feel free to reach out if you have any questions. Let’s GrOw!!!

Hello Vanessa and welcome to the investment party! Wishing you all the best in your investment endeavors. I recommend attending different Real Estate Investors Association meetings to network and get a feel for the landscape. Hopefully, you can meet genuine people that want you to succeed and will assist you in your endeavors without trying to take advantage of you. I have been fortunate to meet two of those individuals and gained a mentor. Getting a mentor should also be a priority, but make sure you can be of value to them in any way possible. Enjoy the journey and don't hesitate to reach out if you are feeling stuck. That's what the community is all about. Let's GrOw!