All Forum Posts by: Jason McKinley

Hey Manly,

What market in Indiana?

Keep the sun shining for me I will be out there in a few days!

Cheers,

I am with Robert, get this kid a Pro membership!!! I have $10 on it too!

Jonathan,

Every one of these responses is spot on. Ask questions, read, listen and repeat. Best of luck to you in what appears to be a bright future.

Cheers,

Hi Dane,

My first property was a half duplex or townhome however you want to put it. My biggest problems with the property all stemmed from the fact that I DID NOT own the other half of the building. The other landlord was not at all proactive in dealing with maintenance issues(roof) which resulted in damages to my side. Also it sat vacant long enough for animals to move in and create disturbances for my tenants. Looking back on it I should have just bought the whole building if possible. That would be my recommendation to you as well. See if you can't lock on the whole building and if not it might not be such a great deal. Best of luck!

Cheers,

Israel,

You can do a cash out refinance to use that equity. Check out this blog post for some good talking points.

https://www.biggerpockets.com/blogs/5110/46871-buy-rent-rehab-refinance-cash-out-refinance-delayed-financing

Hey Robert,

From my understanding a HELOC would be appropriate for say a flip or BRRR strategy. If you are looking to do the BRRR and eventually refinance you will need to take into consideration the 6-12 month seasoning period.

If I understand your post correctly you own a property out right and you are looking to use it to leverage another buy and hold. If that is correct it would probably make more sense mathematically just to cash out refinance that property at a fixed rate and use the proceeds to fund other investments.

Best of luck in the future.

Cheers,

Hi Michael,

Glad you have decided to stop lurking and start participating! In regards to your question of being on the right track it all depends on your market and comfort level. I personally am comfortable with buying SFR and small duplexes and so based on my market would not entertain a condo. I would suggest that if you are going to house hack, why not do it with a single family detached? If you are going to have cash based on renting the extra rooms out then you could use that money to pay for maintenance/lawn tools or even pay someone else to take care of it.

Go in with a solid the exit strategy(ies). What gives you the most options? If in your market condos have a stronger market than houses go with the condo, but if the SFR has a stronger market and more exit options then go with the SFR. Either way you have to know the market and be comfortable taking the risk that is involved. Do what makes sense to you.

Best of luck to you!

Hi Steven,

Welcome to BP!! Yes it is expensive out here in CA, but I am sure people would argue it is far from overpriced. I believe you will find BP to be a great resource for your success in REI. I would definitely seek out those members in your target market asap. I have had great success thru BP in finding other investors in my market even though I am located out of state. Best of luck to you going forward.

Cheers,

Hi Israel!

Welcome to BP!!! This is definitely a great place to learn and network. What other states are you interested in? Do you have a market you are already researching? I am currently investing out of state as well. Let me know if I can ever help. Again welcome to the community!

Cheers,

Welcome Adam!! BP is a great community and resource. Good luck in your future ventures and if you ever want to chat let me know.

Hey Roberto,

Thanks for your service and welcome to the site. I was stationed in SC on the coast and have contacts for that area if your ever interested. Best of luck to you in the next chapter of your life.

Cheers,