All Forum Posts by: Zachary Dalton

Thanks for the responses. I’m slowly bringing my wife on board so renting my primary is a no go for now. I should have enough cash for 2, possibly 3 conventional loan down payments (hopefully) while leaving myself a repair cost cushion. I’m hoping once we get the ball rolling with some passive income she’ll be hooked. 

I want to transition into the investor role full time eventually. Drop my 401k job. 

I completed a cash out re-fi on my primary residence. It took almost 8 months (appraiser problems)  but I came away with a lot of equity. I live in Northeast TN and am looking for advice on where to go now. I am looking for multi family to buy. 

The market where I'm at (and assuming everywhere) is super competitive right now. Deals go very fast and I'm wondering what steps a "seasoned" investor would take if they were in my shoes. I was hoping to be purchasing 3/4-plexes for under 200k initially but this past year property values in my area went up about 40%. I'm running the numbers and coming up with average or below average deals. I guess my primary question would be.. 

1. Pay the premium to get in the game.

2. Wait and see if the market cools off. 

3. your answer here! 

Thanks in advance, you guys are awesome!

No boats for me! Thanks for the response!

First post! I’ve been creeping on this community for a couple years and have about a hundred podcast I’ve watched under my belt. 

My question:

I’m finalizing my cash out refinance tomorrow and was wondering. Will the mortgage company cut me a check? Will they want the funds deposited in a bank account immediately? If so can I take a sum of that money (say 25k) and get in in cash to use for quick pop up deals I find? 

Thanks in advance I’m excited to begin this journey!