All Forum Posts by: David Ojo

Hello @John Chambers. I know this is an old thread but I'm sort of in thesame position as you were. I got an appraisal value to be $85k more than I personally evaluated. It's a townhome in Baltimore, appraised for $275k but I personally think it's worth $190k. I'm having thesame conundrum on how to go about cash out refi. I'll ultimately refi the amount that'll give me a reasonable cash flow but I'm curious as to what path you took and how it worked out for you? Thanks!

Hey @Dalton Cole Bodine, I'd consider using zero percent business credit cards, you can easy qualify for more than $50k if you have an LLC. I'd rather do that and keep my home equity.

Curious as to where you purchased for $10k! Mid-west?

Congratulations @Jeffrey Ronquillo on paying off your property!
If you have good credit and an LLC, I'd look into 0% business credit to fund the deal and keep your home equity intact.

 All the best Steven! Let me know if you need any referrals.

Hey @Logan Lambert! Thanks man, this is along Robb Street, 21218.

Hey @Chandon Floyd! Awesome, feel free to stop by anytime.

So for this property, the conditions were a mix of a couple things:

- The rise in the interest rate. I tried selling at a time when the interest rates started to skyrocket, my assumption is that this deterred many buyers from the market who were holding on to the hope of rates dropping in the nearest future. Again, this is just my assumption based on the trends I noticed.

- While doing due diligence for this property, I made sure it was in an area that was relatively good. However, there was this 'bando' property right next to mine. As at the time I purchased mine, it wanted looking too bad and I looked it up, found out it was city owned so I went ahead with the deal hoping the city was gonna either sell it soon or do something about it. I was wrong. With time, that property deteriorated and I believe that deterred some potential buyers. This is not necessarily a market condition though, just a rookie mistake.

- The last condition, a bit too long to type here lol but hit me up anytime and I can share more.

All the best with your first purchase, happy to share my thoughts on any property you have in mind.

Hey @Eduardo Cambil, I can provide a referral to a lender that can help. You'll need an LLC, a 700+ credit score and you'll have to refinance within a year.

Hello @Essence Goff, if you have an LLC and a good credit score (680+), I can walk you through how to get 0% interest business credit cards, which you could leverage alongside hard money instead of tapping into a second HELOC. This strategy can help you preserve your HELOC for other uses while still securing the funds needed for your next investment. It's a great way to scale your portfolio as well.

@Lindsey Konchar I agree with Luckson. 2.25% will be hard to come by again. One strategy you can explore is a combination of 0% business credit cards and hard money. This works really well especially for BRRRR's because you can cash out refi. However you have to make sure you get the maths right for it to make sense. Let me know if you want more info!

Welcome @Sylvens Bellanton! You're definitely in the right place to make some great connections! I'm an investor in the Baltimore area, definitely reach out if you ever want to discuss creative financing strategies—there are plenty of ways to structure deals and maximize your capital. Wishing you the best on your investment journey! Looking forward to seeing your success.