All Forum Posts by: Barbara Engel

 @Adam Schooley Thanks for replying! Small world, I too work at CCF in Weston. ER nurse here, certainly a tough job. Looking to leave the bedside and just do per diem. I haven't done much research on HELOC but keep hearing about it so I will read up on it. I would also like to get into fix and flips but wasn't sure about the SOFLO market, it was challenging finding my home last year but I got very lucky and found a great deal with some equity in it. I would love to learn more about the HELOC you did and network with you.

Hello,

seeking advice from the experience of this forum. I am a newbie to the world of real estate. I am a homeowner, purchased my primary residence 12/21 and in one year it has appreciated approx 90k. I have about 70k of equity in home. I purchased FHA. Eventually I plan to place this home on the short term rental market, it is located in south florida right off turnpike, near the airport and beach, main roads and downtown tourist attractions. the area is going through a ton of gentrification so I plan to hold on to this one for at least 5-10 years.

Additional resource I have is the property my mother owns free and clear with property value of approx 400k. My mother is seeking to retire soon and would like to invest as well. I am in SoFLO and she is in NJ. My mother and I have a combined income of approx 150k per year.

I have 50k in cash to utilize if needed but as I have been learning, I would rather use OPM. I am considering buying a duplex in NJ to let the property pay for itself then use the BRRR method to flip a property. My goal is to retire from nursing, my current profession and build cash flow to be able to do so. I plan to open an LLC to do this, with my partner being my mother who will be an investor.

I am very eager to invest but I am not sure the best angle. Would it be best to do a cash out refinance on the property that is owned free and clear? If so, should I first transfer the deed to the LLC name?

Or should I use a hard money lender, using the collateral of the properties we have to put on the table.. Then buy, rehab rent and refinance to pay back the lender?

What would you do if you were me?

Hello,

seeking advice from the experience of this forum. I am a newbie to the world of real estate. I am a homeowner, purchased my primary residence 12/21 and in one year it has appreciated approx 90k. I have about 70k of equity in home. I purchased FHA. Eventually I plan to place this home on the short term rental market, it is located in south florida right off turnpike, near the airport and beach, main roads and downtown tourist attractions. the area is going through a ton of gentrification so I plan to hold on to this one for at least 5-10 years.

Additional resource I have is the property my mother owns free and clear with property value of approx 400k. My mother is seeking to retire soon and would like to invest as well. I am in SoFLO and she is in NJ. My mother and I have a combined income of approx 150k per year.

I have 50k in cash to utilize if needed but as I have been learning, I would rather use OPM. I am considering buying a duplex in NJ to let the property pay for itself then use the BRRR method to flip a property. My goal is to retire from nursing, my current profession and build cash flow to be able to do so. I plan to open an LLC to do this, with my partner being my mother who will be an investor.

I am very eager to invest but I am not sure the best angle. Would it be best to do a cash out refinance on the property that is owned free and clear? If so, should I first transfer the deed to the LLC name?

Or should I use a hard money lender, using the collateral of the properties we have to put on the table.. Then buy, rehab rent and refinance to pay back the lender?

What would you do if you were me?

Hello,

seeking advice from the experience of this forum. I am a newbie to the world of real estate. I am a homeowner, purchased my primary residence 12/21 and in one year it has appreciated approx 90k. I have about 70k of equity in home. I purchased FHA. Eventually I plan to place this home on the short term rental market, it is located in south florida right off turnpike, near the airport and beach, main roads and downtown tourist attractions. the area is going through a ton of gentrification so I plan to hold on to this one for at least 5-10 years.

Additional resource I have is the property my mother owns free and clear with property value of approx 400k. My mother is seeking to retire soon and would like to invest as well. I am in SoFLO and she is in NJ. My mother and I have a combined income of approx 150k per year. 

I have 50k in cash to utilize if needed but as I have been learning, I would rather use OPM. I am considering buying a duplex in NJ to let the property pay for itself then use the BRRR method to flip a property. My goal is to retire from nursing, my current profession and build cash flow to be able to do so. I plan to open an LLC to do this, with my partner being my mother who will be an investor.

I am very eager to invest but I am not sure the best angle. Would it be best to do a cash out refinance on the property that is owned free and clear? If so, should I first transfer the deed to the LLC name?

Or should I use a hard money lender, using the collateral of the properties we have to put on the table.. Then buy, rehab rent and refinance to pay back the lender? 

What would you do if you were me?