All Forum Posts by: Jon Sanborn

Thomas Franklin is absolutely right! Check out the podcasts to gain knowledge in different ways to find and finance deals, they have helped me tremendously. Welcome to BP and best of luck in Florida!!

Welcome to BP Mike Morgan ! Best of luck in Florida.

@Cesar Roca Welcome to BP! There is a ton of info to learn from this site. I recommend the podcasts. They will help you pick a strategy, set your goals, make a plan and definitely inspire you! Best of luck in Texas. 

Austin Salley you came to the right place. BP is a great resource to learn and network. Before you do anything, it is important to educate yourself, and create a short term/ long term plan. The podcasts are my favorite way to learn. This week's podcasts is all about investing in multifamily houses, something that probably interests you.

Samantha Klein I love that strategy, it's similar to mine. I'm also 23 and your story is an inspiration to me. I've been learning as much as I can over the last few months so I can finally pull the trigger on my first property with confidence. Thanks for sharing your story!

Welcome to BP, best of luck!!

Welcome to BP, glad to have you here, Eva Croasdale !

Hi Dipti Shah welcome to BP! You've came to the right place to learn all about real estate investing. Here you can network with people, learn about different investing strategies, and share you me knowledge and experiences. Check out the education tab, there is a lot of great information there, especially in the podcasts. Best of luck and welcome again.

BP actually has calculators that help analyze deals, whether you're trying to buy and hold, wholesale, or flip. I believe they are under the Tools tab, or something like that (sorry I'm on my phone so I can't check). Just plug in the numbers and the formula will create a few charts and graphs that will help you analyze your deal. Best of luck!

From my understanding, you would go to a bank and tell them you want to take a credit line out on the equity you have on current home. They probably won't give you the full value, but some to most of the value of your home. You then have a credit line that can be treated like a credit card. You can offer cash on a property, using your credit line to pay for it. You'd then go to a bank and get a mortgage, pull your money out, replenish the line and repeat the process. Hopefully you'd buy a cheap deal and add value, so when you get the mortgage you'd also make money as well as replenish the line of credit. There are also interest payments just like a credit card would have. I've never used this method but plan to in the future, but that's my understanding of how it works.