Getting out of my shell.

11 Replies

Hello everyone. Timothy Walker here, and I’m looking to become a buy and hold real estate investor. I’ve been a BP member for a few months, haven’t been active though because I’m not the type to ask for help or advice....I’m a sociable person just not very social. Haven’t gotten very far on my own so I’m looking to make new friends in my area or online that are likeminded. If you’re in the Phoenix area and wouldn’t mind sharing some ideas give me ring and we could talk over lunch or something.

@Timothy Walker

Welcome to BP Timothy. It's a great place to connect and network with other investors and ask questions. There's no need to be shy or anything like that. If something's on your mind, just post it and see who responds. Feel free to reach out if you wanna chat.

Hello everyone. I’ve talked my fiancé into getting a Heloc on her property that she owns free and clear so we can use it to buy an investment property. The thing is that she has terrible credit and mine is fair, the low end of 600 but I’m working on it. Any ideas on how to get a Heloc done in this situation? Can my income and credit be used?

@Timothy Walker that’s certainly an option. Navy Federal Credit Union (NFCU) will do 95% LTV (loan to value) HELOC on an owner occupied property. The interest rate will probably be a little higher for your credit rating. Also try your local small banks and credit unions.

My fiancé has decided to quit claim her townhouse(worth about 90k)to me. She has been trying for a Heloc but she has horrible credit,and can’t provide proof of income for the past couple years because she gets paid cash. Nobody will do anything for her. I’ve been on my job for 2yrs and I have fair credit at 616 (got about 2k in debt to pay off). I’ve been really digging into Real Estate Investing and I feel I could use this opportunity to change our lives. If you as a rookie investor knew what you know today, how would you take advantage of this situation?

@Timothy Walker   - your statement of "a social person just not very social" resonates with me. thats the way I am. my real estate career accelerated when I began to work on my people side of this buisness. Pure relationship building and networking skills enhancements. Keep at it and try to keep growing those skillsets and you will see rewards. Most people look to try a different business model in real estate to get it going faster. they try them all , maybe wholesaling will be easier etc. I have done them all. I prefer multifamily now but that is only after I really developed my people skills did I see real results. 

Good luck and keep at it

@Timothy Walker

Welcome to BP!

Some of my favorite resources:

If you haven’t already listened to the podcasts I’d start there.


Episode 108 - Grant Cardone... Just listen…

Episode 283 Paul Thompson - Quite a new episode but I would think everyone would agree this is a top episode. Mainly, the systems implemented are fascinating. 

Episode 113 – Jay Papasan - Very practical slow and steady advice

Episode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k

Last but not least, I also recommend all the tax advice given by my fellow CPAs on the BP Podcast.

Amanda Han

Brandon Hall

Tax Reform Update – Brandon Hall and Amanda Han

Linda Weygant


Ultimate Beginners Guide

Forum Stickies

BP Calculators or spreadsheets uploaded by members

My Favorite Books

I have to say all of the BP books…right? :)

The Millionaire Next Door

The Millionaire Real Estate Investor

What Every Investor Needs to Know About Cash Flow

Hope this information can give you a good start. Feel free to reach out with any questions. 

Any ideas on how to get a Heloc on a property owned free and clear with poor credit (591)? I would love to use some of the money to invest in another property and rent my current place also. Was denied by my Credit Union. Any advice will be appreciated.

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