All Forum Posts by: Valerie Clemens

Hi, Jerry --

I am thinking of selling my house, but in Phoenix houses are expensive now.  I was thinking of buying a house that needed some cosmetic things done and yes, living in it while that is going on.  Fortunately, I have an excellent handyman who I trust to do things right.  My house is very, very small and my sister needs to live with me.  Anyway, thank you for responding.  These are large decisions!  

Thank you so much!  Yes, I will calculate that.  I am a little leery of HELOCs, and there are many different opinions on YouTube, which is where I get my information.  Don't own a TV.  Anyway, I will keep learning.  Ideally, I would like to either buy a rental or buy a property below fair market value and do some rehabbing while I live there.  

Thank you so much, John.  Yes, I suppose there really is "nothing new under the sun," as they would say.  Too bad it is a get rich slowly method!  HA.

I will just keep learning and finding (hopefully) a house to do some rehab on -- fortunately I have a great handyman who can do a lot and is reasonably priced.

Thank you -- have a nice weekend there.  

Hi, BP Group -- I have not been at all active on here, due to massive changes in my full-time job.  Company was bought out, then merged and so in two years I've been focused on that.  Well -- I'm in Phoenix.  Have a small house and would just like BP readers' input.  I have no real retirement money, but do have quite a bit of equity in this house. 

Anyone have success in taking out equity or a HELOC to purchase a property for renting it out? I have never been a landlord. Right now, I plan on keeping this house. I have started reading up on real estate investing again. Anyone use the BRRRR method that Brandon talks about? Thank you. I have over $75,000 worth of equity in this house.

Thank you one and all for the replies.  Well, as far as goals are concerned I have to sit down and really think about that, in terms of a monthly amount I would like to have.

I am thinking I would like to find a rental to start with, as it seems doable.  I would like to first of course learn how the math works on what makes a good rental, as I live in a house which might make a good rental.  I bought it at about $20,000 below the asking price.  This was actually just a lucky deal, as the appraiser couldn't find enough current comps to bring in the value the sellers were looking for.  I live in a 55+ community where houses are selling in less than a month, here in Phoenix.

I agree I need to overcome my introversion.  I make my living talking on the phone, which is my comfort level.  Face-to-face causes sweaty palms, but I must overcome that.  

Bigger Pockets is amazing -- my first goal would be to figure out how to find a mentor or someone who would at least be willing to answer questions.  Anyone out there with suggestions on that?  

Thank you!

OK, so I may be a bit melodramatic!  I am a single woman who is, ahem, past 55.  I still work full time.  However, I've never made a lot of money and when I review my Social Security statements -- YIKES!  

So, I am hoping (and praying) that real estate investing is doable.  I have purchased my own home and have always been interested in real estate.  I've had a limiting belief that you had to have a lot of money to get involved with investing.  However, I am beginning to see there are some ways around putting your own money into a deal.

Another issue has been my tendency toward introversion....  However, I'm determined to get out there and meet other investors and realtors.  Time is passing and I can't just sit here on the couch with my cat!  

Anyway, I love BiggerPockets and will post more as time goes by.  

Valerie