All Forum Posts by: Charlton Zang Jr

So if I do a HELOC and buy a house can I put a mortgage on it after 6 months? Also can someone help me understand how the payments work? The rates for the HELOC are around 12% is this still better than getting the new mortgage for 7.8%?

I am getting ready to buy my first property and I am taking money out of my primary house. My banker is telling me to refinance to save the interest and a smaller payment rather than using a HELOC at a higher rate. Should I use the HELOC and in 6 months get a mortgage on the investment property or just refinance? I have a 20 year loan with about 18 years remaining at 2.8%. Any help would be greatly appreciated.

I am going ro see a property tomorrow and was wondering if there was someone that would assist with a property analysis. I am pulling a HELOC from my primary home and want to make sure the numbers work. Any help would be greatly appreciated.

Thanks all of you for the information and support! I think my hardest thing when choosing a route to follow is the more I learn about them the more I feel confident in doing them. Right now I think I am gonna start trying to find some meet-ups and get to know more of the local investors and realtors in my area. This way I can get a better plan of action set a a goal.

With all being said I have decent understanding of what it takes to do all the different strategies. (All I do is read forums and listen to podcasts everyday) I am starting in the Metro Detroit area suburburbs when I currently live. I have about $25K I can borrow from an old IRA to start with. I also have a primary house I owe about $120K and it's worth about $300K so I could borrow against it but I'M scared of doing that. What else can I do or if anyone Is in the area I can sit down and talk to? TIA

I am currently looking for my first deal. I have gone over the strategies for STR, MTR, LTR's and don't know where to start. My question is, how did everyone else start and decide what strategy to use? I don't know if I should just buy cheap and try it out (For the learning experience) or if I should invest more and hope it works. Any help would be greatly appreciated.

I was able to get ahold of my current employer and they told me I could transfer it over. They also told me as soon as I transfer the funds they are available for a loan. Thanks for everyone's input!

I'm looking to start my first investment with a MTR. I'm looking in the Metro Detroit area because of the proximity to the large amounts t of hospitals and the Big 3 automakers. Is there anyone else in here that could offer some help on choosing and setting up a MTR? Any help would be greatly appreciated 

I'm familiar with the penalties and such, I was just wondering if anyone else has done this and how it has worked for them. I have started a new job with a different retirement setup so this has just been sitting for about 4 years.

Is there someone that could give me some advice about using and old retirement account as start-up capital?