All Forum Posts by: Joseph Firmin

@Monica Cunningham About 1.5 years ago, I went to 8 banks in 1 week in Atlanta and got 4 different unsecured lines of credit. Pound the pavement, you got this!

Thank you @William Coet and @Patricia Steiner, yes it is very competitive. We will be competitive and have certain strategies to be so. The sub-market knowledge is key as you said Patricia, we will be building that knowledge and working with our team & partners to be successful. Looking forward to progressing.

Check out the credit unions and also online. Doesn't have to be local to be a good partner for a deal, although the local credit unions should be a great resource for you.

Go read David Greene's BRRRR book and also get recommendations from your local REIA or BP Meetup attendees, post on those Facebook pages also... You should have no problem coming up with recommended contractors.

@Maxwell Fontaine - Great story dude. Nicely done. What is the value of the home? 

Hi @Joyce Jackson, There are pros and cons to the options. If you do a cash out refi you'll need to begin paying a higher mortgage on it immediately, but you'll lock in a long term low-interest loan. If you use a HELOC, the interest rate may be a little higher, but you won't have to pay on it until you use it - like a credit card and it acts like cash. For flexibility purposes, I'd lean to a HELOC over the loan options.

See the pic attached...

This is the one... It was after rehab, but if you're at the studs, you may as well try it out.

This seems wide open. Given the stairs are after the mudroom but before the kitchen, you could go any way here. They don't need to be hardwood or nice, but given they are townhomes and without knowing the asset class (A-D) - I'd say keep it low maintenance and budget friendly. Carpet will need to be replaced, wood will be durable, but also, without knowing the rest of the materials in the house, you probably want it to flow into the area you're entering.  Assuming it won't be abused since it is after the mudroom and that this is a Class B property, I'd go wood or carpet.

Hi @SK Yuthas, They may be but it really goes back to goals. Figure out where you want to be, by when, and then see if you can back into they type of real estate investment that fits your goals. There are many different ways to invest in real estate, just make sure what you want aligns to your long term goals. As others on this thread mentioned, do some research and check out different sponsors, understand if a syndication is appropriate for you and then once you have the right knowledge, take action. 

Very cool man, well done! Best of luck!