All Forum Posts by: Adil Oghlan

Congratulations on your success! It is very inspiring! 

@Fred S. @Jassem A.  @Franklin Romine @Martin Scherer  I'm in similar situation now.. I have about 230K equity in my primary residence, and I'm planning to take maybe half of that equity out as down payment for my next house to live, then rent out my current home.  So my questions are 

• If there is any bank rule against you moving out your primary after you are approved for HELOC? 
• Will bank cancel my HELOC if I move out?

MLS and Agents..

@Marcus Johnson Hi, I am in a similar situation, not sure how this turned out for you? You said ARV is about 170K, and she only owes 130K, how much did you end up offering her?Did you go with shortsale offer or? Would love to hear the outcome..

I will be buying rental properties aggressively if the market crash again.. Have seen a lot of success in other people doing so.. In long run, by long run I mean 20 to 30 years, you really can't go wrong with RE as long as the location is right.. 

Thanks for sharing your story, very inspiring! 

@Ashley Pimsner,@Stephen Chittenden, thank you all for the great advice! 

@Daniel Mohnkern  It's good to know you can do that even with the loan. In my case we will be buying with cash and refi after. So there should be no problem, my only concern now is transfer taxes and fee associate with it..  

@Stephen Chittenden, Thanks for the feedback! I will look into the transfer taxes here! 

Hi All 

Here is the situation: I have spotted a potential deal and looking for equity partner, my uncle showed great interest and agreeing to partner with me on this deal, however due to the time limit we didn't file a LLC before we submit the offer. So the question is can we get the house under our names first then form an LLC and transfer the title? Or is there any better way to go about it? Any suggestion is welcomed! Thanks a million!

Adil