All Forum Posts by: Brad Cherry

My wife and I are working to get our first investment property. Having enough capital has been our largest issue with this. I have the opportunity for a new position with a different company with a much higher salary. It is in the same industry and would be a promotion in job title. Would this make our mortgage approval harder with job change?

Thank you for any advice.

@Joshua Frank hey Joshua, my wife and I are also new to real estate investing here in Charlottw. I have been doing all the reading and knowledge building I possibly can over the past year. We are looking at starting our real estate career with short term rentals, and using that cash flow to purchase multi family and lang term buy and holds. I would love to connect sometime if you are up for it.

@Pauline Zhao thank you for the advice. I will definitely check them out.

@Kerry Johnston I absolutely agree. I will let you know if any questions come up. Thank you

@Kerry Johnston thank you for reaching out. That is great to know, my wife and I are also looking at developing a short term rental portfolio. We have been looking at some possible opportunity near asheville for this. It would be great to get more familiar with the lending process. We own our primary home now but have never purchased an investment property.

@Riley McMinn thanks for reaching out. We are looking right outside of Charlotte as well. It would be great to connect and meet up soon.

My wife and I live in the Charlotte NC area and are looking to connect with fellow real estate investors. We are looking to do our first deal in the near future and would love to connect with others looking to do the same or have been in the game a while!

I would turn the meter of and see if it is still running, could show signs of a leak. You can also walk the yard between the meter and the house feel for any really soft spots in the yard. This would definitely be a sign of a leak underground. You can also call the water company to come out and look at the meter. Sometimes their meters malfunction or they can tell you if there is a leak somewhere. 

Hey @Joseph Firmin,

Thank you for the message, I agree with you. I do not want to re structure our mortgage payment through a cash out refi. I was thinking we could use a HELOC kind of like a private money lender and draw from that instead of another source of private money. We have about 150,000 in equity in the house for a HELOC. That is after the 80% calculation from the entire equity in our home. Would you suggest trying to get as much as we could on the HELOC instead of just applying for say 100,000 of it? Then we have more flexibility for future deals.

We have a good amount of equity in our primary home, is it a good idea to use a HELOC on that home to purchase our first and possible second investment property?