All Forum Posts by: Harken Maguire

Awesome! I will start researching that.

@Kenneth Garrett So far he has been buying with Fannie Mae (or Freddie Mac, can’t remember the exact one). I know he said he only put 5% down on the first one, but puts 20% down now that he has the capital.

Hello everyone,

I recently reconnected with a friend from college who presented me with an investing strategy that really fits me. Basically, he buys a house, remodels it, refinances, then rents it out and repeats. It seems to me like this allows you to invest without the large down payment.

I am curious of your thoughts on the continual leverage of this strategy with the refinancing. 

I am also curious on strategy for managing the business side of this. Once refinanced is there anything keeping me from flipping the property to an LLC?

Would I be able to buy the second home for 5% down if I would now be using that as my primary residence?

all info and advice is welcome.

 

@Clark Kirkpatrick

Thanks for the awesome response. Buy and hold rentals has been the strategy that appeals to me the most. I am looking into multi family places that I could live in and rent out the other units.

@Justin Windham thank you for the resources and information. I’ll be using those links

@Jack Butala thank you for the well wishes. I hope your success grows exponentially. 

@Scott Mac student debt is not something that goes away very easily. The problem was that I was making very little money as an instructor and need supplemental income. My MBA is paid for by my employer. I beg to differ that a financial education is useless in investing.

Hi everyone I am new to BiggerPockets and real estate. I hold a degree in finance and am working towards an MBA so I am not totally clueless. I recently gave up a dream job traveling the world as a snowboard instructor because my student debt was getting out of control. I am sitting at my corporate job looking for anyway to get back to that. 

I will take anything you have to offer: advice, connections, opportunities, assignments, you name it.

I look forward to getting to know the community.