All Forum Posts by: Will Hanner

I'm in Fla, have multiple cashflowing properties, above average credit and am positioning myself. Finding cash flowing deals is extremely challenging now so 100K via RELOC + 20K cash is my plan to pick up a below market deal. Please advise.....

Stats:

3/2 w/176K mortgage

$1,750 payment

25 yrs. left

Chuncking 12K annual via HELOC

My goal is to pay it off in 6 years.

Should I recast my loan? What are the benefits/drawbacks?

I've had approximately zero success in finding properties on my own won't give my thoughts on realtors out of respect for the industry. That said, a Wholesaler seems to be the most likely source but how do I find a good one? 

I've currently got 1 condo CF $550 & SFH-CF $600. The SFH has 200K equity. Two questions:

Can I get a get an investment loan against the property if its not owner occupied?

How can I best use my 50K HELOC?

morris is now learning the lesson he's been teaching regarding contractors. He's in Jersey and trusting a 'partner' in Indiana. I cant trust a contractor in my same city AAAAAND make sure I'm on sight every time anything is done. Is Clayton Morris a snake, in my opinion No. Did he forget the Ronald Reagan adage "Trust & Verify".... Absolutely. 

HOW TO GET AROUND THIS:

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Renting condos in Fla has a similar barrier; no 1st year rentals. Many get around this by adding the renter to the initial occupant list, then removed them after a year. You could simply do the same. 

I've seen and heard coooountless stories from investors on rinse & repeat. Where a clear disconnect for me in 2018 is in building equity needed to repeat. I understand the principle but in almost every case, the property was bought for $X, was immidiately worth $X + 15%, then a mere 6 months later there majically appeared an incremental 20% property value increase. The 2018 reality in Florida is a unit purchased at 85K in March is now worth approximately 80-85K. So, my question is; 

How does an investor build the equity needed to rinse & repeat in a sideways/downturning market? 

NOTE: Youtube is filled with stories of buying a propert valued at 60K at 55K, rehabing for 15K, then a Tooth Farry-esque 110K in equity majically appears. Nearly every situation was when the RE market was overly depressed. 

I need to protect a few properties and feel a trust is the way to go.

I'm looking to put a few properties into a Trust to protect my gamiky 'in the event'  Can someone guide me to a RE attorney?

Im trading 2 condos on a golf course ($185K equity) for 4 blue collar homes; heres why;

$445 HOA means im converting -$55 cash flow on 300K condo balues for $860 cash flow on 560K value of the 4.