All Forum Posts by: Chad Verde

Yeah that’s true. Good point. Thanks for the suggestion 

Anybody know of a mentor local to Houston, TX? New to REI and ideally would like guidance from someone experienced (not a course seller). Thanks

I’d have a better picture by sitting down with someone at a bank, but I did a calculation online and the new loan on cashing out $130k would still be covered by the current rental payment. Bought the house for a good deal in 2020 at 2.50% int rate. 

To clarify, $200k in equity so estimating cash out refi around $130k

Hi BP,

I have quite a bit of equity sitting in a rental property I own. Gathering different opinions here. What would YOU personally do with about $130k cash to invest in real estate. Just want to hear everybody's thoughts.

Thanks both for the replies. It really just stems from wanting something different professionally. A major component of my skillset has always been grit and being able to outwork others, which I don't think my current position is able to fully utilize. I think this could play into a strength in terms prospecting and finding deals. Could you all touch on the wholesale market? I know it is competitive and it is also prudent to not believe everything you see/hear, but I'm hearing people net $25k-$50k+ per transaction. A bit of a grand slam, but a friend of mine just did a wholesale deal last month that net a little over $200k. I wouldn't necessarily go into ownership immediately and wholesaling would be a path to build up capital.

Any advice from active RE investors would be appreciated. I've been in the commercial valuation industry for the past 5 years appraising office, industrial, and multifamily buildings nationally for institutional investors. Currently at a large global firm (at Houston location). A bit run down of the repetitiveness, lack of fulfillment, and overall client-pleasing obligations that must be met for every assignment. Money is good, consistently pull-in say $150-$200k although being extremely busy with very long hours. I just don't care anymore. I like real estate so I intend to stay in the space. If you had 12 months of expenses saved up, would y'all go all-in with real estate investing/entrepreneurship path? I'm thinking wholesaling, JV for acquisitions/renovate/dispositions, etc. Obviously meeting others/ a mentor in this space and doing the grunt work in exchange for their 10,000 hours would shorten the learning curve. I know know any path in this industry will be difficult but transitioning and applying the same amount of hours I work now, I'm sure it will lead to success eventually. For what it's worth, my current job has a very high barrier to entry in terms of experience/licensing so I can get hired tomorrow and make the same money if I ever needed to come back.