All Forum Posts by: Doug Bish

It's "What every real estate investor needs to know about cash flow." I'm about to purchase the book myself.

Hey Brian, the pro's on Bigger pockets discuss this often. It's called House Hacking. Here is a good link to read. https://www.biggerpockets.com/renewsblog/2013/11/02/hack-housing-get-paid-live-free/

Hello pros, I'm needing some advice. Let's say I would like to purchase multiple single family homes to rent out. My short term goal is to get the first purchase under my belt needing for experience, etc. Secondary goal is to add to that up to 4 additional rental properties. My COH is not that great currently so my intentions would be a HELOC or dip in my 401k. Option 1) Let's say I could get roughly $50k from a HELOC. My goal would be to find a home that I could pay cash with the $50k and then rent it out. Could I then refinance the home, reload (pay off) my HELOC, repeat? Option 2) Or, would it be better to use the $50k as down payment on purchases as needed and get another type of loan to cover the remainder 80% of the purchase? The only problem here is how do I refinance to get my HELOC reloaded after several purchases when my HELOC is open and already have 2 mortgage loans (1 being primary home and second is the 80% cost of the first rental property)? Option 3) dip in my 401k for down payments and get the remainder 80% through a lender/bank? I guess what I'm asking is how could I do this to keep on rinsing and repeating without looking like I have a open HELOC account and 10 loans? Hopefully this is not a dumb question. Thanks in advanced, Doug

Hi all, so I wanted to clarify as I got a little confused reading all these posts. For example, let say I wanted to get a HELOC to start my investment journey through my personal home. Let's just keep easy numbers here: Value of home: 200k Current mortgage on home: 130k HELOC value if 80%: 200 x .80 = 160k 160k - 130k = $30,000 HELOC I take this money and purchase an investment rental. Let's just say I paid 20k for the home and put 10k in the rehab = 30k. All HELOC money is now tied up in the rental and now appraises for 60k, but I owe $0 on the rental (well technically I do owe through the HELOC) So here's where I am confused. Do I now get a cash out refinance = the homes new appraisal of 60k? Take that and pay back the HELOC of 30k (HELOC is now reloaded and paid off). Have an extra 30k to pay back on the cash out loan. Now let rental property pay for itself on remainder of loan? Rinse and repeat with HELOC?

Thank you Andrew and Ozzie. I look forward to this journey and eager to learn!

Awesome, thank you Deadrick I will do that.

Hello all, I am very interested into educating myself investing into real estate. I want to learn more about flipping & renting. I'm interested in single family rentals and flipping. With that being said, where would recommend me reading or listening to? What area of BP should I go through first. Thanks in advance and look forward to hearing your answers.