All Forum Posts by: Zach Grigg

@Carini Rochester Thanks for the feedback! You made some great points. With this being our first deal, there's definitely some fear there.

The engineering business is BOOMING in the Huntsville, AL area. You're right though, even with the pandemic and the economy the way that it is, demand is still very high. No shortage of jobs and opportunity here - that's for sure.

My wife and I have set a goal to obtain our first rental property in 2022 (focusing on small multi-family or potential short-term rentals). We are working through our strategies, or 'war plan' as we call it, and I'm wanting to get feedback from the BP community on opening a line of credit on a primary residence to fund a potential deal, if necessary in securing the property. I'm curious to hear your thoughts and any experience you have using this strategy. I'm looking at this from a risk analysis standpoint to determine if the rewards outweigh the risk - which all depends on the property and what the analysis tell us. All feedback is a great learning opportunity, so let me know your thoughts!

Full Story: We plan to use our current primary residence as a LTR when we go to move in the future (3-5 years). We have a separate savings account specifically for investing, however, our house currently has approximately $45k in equity thanks to the growing market in our area over the last 5 years. We would like to use 2-3 strategies for funding our first deal, which is why we are exploring the idea of a HELOC. Our market focus is located in the Central TN area (Greater Nashville area) and Northern AL area. Each market presents different opportunities (multi-family vs STR), and different challenges.

Hello Bigger Pockets community! I'm excited to finally join the community and am looking forward to working together as we all make the journey in the real estate world. One thing I have been looking for is an online real estate group that meets occasionally to discuss all sorts of topics - especially rookie investor friendly. I'm located in the Northern Alabama/Southern Tennessee area and I have not been able to find local Real Estate Invester Groups in my area. I'm still working to put together my team early in 2022 and plan to have my first multi-family property under contract in Q3/Q4 2022.

I enjoy reading and focusing on my financial/investment education, so as a way to break the ice, if you have favorite books, blogs or podcasts, I'd love to hear about them!

I hope everyone has a safe and happy Holidays!

Hello Bigger Pockets community! I'm excited to finally join the community and am looking forward to working together as we all make the journey in the real estate world. One thing I have been looking for is an online real estate group that meets occasionally to discuss all sorts of topics - especially rookie investor friendly. I'm located in the Northern Alabama/Southern Tennessee area and I have not been able to find local Real Estate Invester Groups in my area. I'm still working to put together my team early in 2022 and plan to have my first multi-family property under contract in Q3/Q4 2022.

I enjoy reading and focusing on my financial/investment education, so as a way to break the ice, if you have favorite books, blogs or podcasts, I'd love to hear about them!

I hope everyone has a safe and happy Holidays!

Hey everyone! Glad to finally join the Bigger Pockets family. I'm curious to see how everyone's first (or first few) deals with multi-family properties went and what your experience was through the process. Any lesson's learned that shaped how you approach analyzing/buying/managing multi-family properties today?