All Forum Posts by: Damon K Verellen

Thanks @Andrew Syrios

Thanks @Julio GonzalezMaybe we'll cross paths one day. I have family in Boynton Beach. 

First post for me on BP!

I'm brand new to real estate investing and am working on putting a plan together to get started. I own my current home (paid cash for the land and built myself), however, it's not 100% finished from a bank/insurance company's point of view. I'm back to working a full time job since the year long break I took while building. I want to get my home completed, but I would also like to start down the path of more financial freedom.

So my question is: Would it look better to a bank to not have a current mortgage on my credit or should I look into a loan to have contractors complete my home and then pull equity from my home to put down on an investment property?

I haven't inquired at any banks as to the possibility of a loan against an unfinished home, but since I own it, I figured there must be something available. I just didn't want to go down that path if it would hinder the possibility of a loan on an investment property in the future. 

Thanks in advance!

Hello everyone! I am brand new to real estate minus buying my first home 20 years ago in NJ, foreclosing on said home and buying land in WV on which I've built my own off grid home from the ground up. 

I've been interested in real estate investing for some time but, until now, haven't actually taken the step toward educating myself. I'm hear to learn and hopefully network along the way. I'm excited to get started.