All Forum Posts by: Jacob Shuey

I currently closed on a property and am looking into ways to continue to scale.  The house itself is in Hagerstown MD and was not the best investment but it was attached to me and I now own an entire duplex as well as the property attached to my family.  It was still worth it.  Now comes the challenge of keeping the momentum.  

Quick rundown of the numbers:

Purchase: $130,000  

Mortgage and escrow: $1045 

Total Expenses: $1195

Rent: $1500

Total cashflow: $305

Primary issue right now is a 2 year buy back term for a DSCR loan that does have a large penalty for that first 2 years. Making a cashout refi next to impossible as far as I can read for those 2 years. In the meantime I'm looking for some options in terms of creating some financing to scale. The 2 year buyout was needed to really make this work and give me piece of mind. Now we move to the fun part of what to do next and how best to move forward with financing. I know I could potewntially use a HELOC but are there any other options? Any ideas are appreciated to continue this journey and grow.

 @Alecia Loveless  Thats what I was trying to consider.  If any of those courses were truly worth it I would absolutely be all in to spend the money.  No one's time is free and being able to connect with others would be worth paying for, for a community with direct contact.  However, it would seem as though the BP Pro is the best bet.  

  For now I'm just sitting tight on the cash and working forward toward a deal that makes sense.  This is a place where I will have many questions moving forward with how I would like to structure my plan and be able to move smartly.  Right now is just the hard part of, I finally have the money now lets make a move.  

Good afternoon

  If this is perhaps the wrong area I will correct it.  I am in an information overload phase trying to take the first steps to secure a long term rental.  I have finally saved a decent amount to begin this process and now I seem to be stuck.  The plan is to use the funds to purchase that first rental and begin flipping some houses along the way to pay down the mortgage on that long term rental, rinse and repeat.  I DO NOT have an affiliation with a coaching program but have looked into them and I am quite unsure if they are ever truly worth it, or if my Pro membership here is truly all I would need to accomplish my goals.  I will layout some information below and I am all ears to advice from there.

Current savings: $12,500 (with the capability to pull funds from an IRA if need be)

Currently working with a realtor I've worked with before in my rental market who is also an active investor

I have the proper steps completed for a DSCR loan from a company found right here at BP and the process was smooth. The DSCR is my best vantage point to begin with my situation.

I have experience owning a rental for over a decade and flipped a personal residence recently.  

    Main questions from here:  

Is a coaching experience worth the high price tag?  

Do I simply jump in with a rental that would (based on the calculator here) give me a 16.56% CoC ROI and move forward from there?

Any advice or information is appreciated.  I believe I am just nervous to truly begin this but all help is welcome moving forward.

Hello everyone,

    I just created my Pro membership here at BP after years of stalking the page, listening to the podcasts and "waiting for the right time".  I am here in the forums to connect with other investors, especially in areas in which I would like to invest.  Just a little about me, I am retired from the United States Marine Corps and have owned several homes in the past.  One of which I held for over a decade and rented, one that I flipped after living in for three years.  I currently live in Hagerstown MD and retired from Tupelo MS.  Both of these areas in which I know well and am looking to invest due to having my own small team with realtors and handymen that can assist me.  I know there is much more than that needed, so here I am!

  I am currently looking to get my first long term rental under my belt and have analyzed several properties in both cities.  I wont be trying to re-invent the wheel.  Simply purchase solid rentals, while dipping my toes into the flipping market to pay down the rentals faster with some of the proceeds.  From here I will just be connecting and taking a new way forward.  

  Any advice from here is always welcome and I look forward to working with everyone!