All Forum Posts by: Jonathan Thrasher

I'm going to take a home equity line of credit on my home which I own free & clear to use to buy other properties. I'm just starting out and I've been told this is the best way to go because with a HELOC you only pay interest on the money you use.

Welcome @Cody Jansen! Looking forward to meeting you at our REI group meet ups

Welcome Jackie! I was at the last REI meeting as well. Great group there as well as here.

I'm just getting started myself and have learned a ton from this site. 

Fantastic!  Great job!  Congrats on your success!  I'm hoping to have the same success with my first flip(s)

I went to one they had In Grand Rapids, MI.  Tarek & Christina weren't even there.  They played some video of them.  It's definitely a sales pitch.   Don't waste your time. 

hey everyone. I'm going to resurrect this thread and don't mean to hijack it but I'm also looking for a mentor in west Mi. I went to the REI meetup a week a go and it was a great opportunity to network and I'm looking forward to the next one. My dad and I are looking to purchase our first flip soon and I'm feeling very anxious and want to get moving on this ASAP. We are having a little difficulty finding the right funding. We were planning on using a Home equity line of credit to get started but the first place we talked would only give us less than 40% of the homes value even though it's owned free and clear. We are looking at other lenders as well as other options all together.

I keep finding what seem to be great deals and can't jump on them because we don't have financing worked out.  I'm wondering if someone can meet with us and maybe walk us through the process or even someone that might be willing to partner with us on our first deal.   

@Brandon Krieg, there was a guy at the last meet up who was there representing his father's company who does private lending, do you remember his name and/or company? I gave my info to him to give to his father but I haven't heard anything from him yet.  

Thanks!

Jonathan

I'm new to this and wanting to get into flipping as well.   With flipping and rentals, you have to really be aware of your target buyer/renter I think.   You can flip homes in neighborhoods you wouldn't necessarily live in but you'll have to do renovations that might not be up to your standards too. 

For me, I think I'm planning on staying in neighborhoods that will allow me to use the finishes and products I want and still be able to make a nice profit. 

thanks for the replies everyone.  Turns out I won't be needing anyone after all as an offer was accepted on the property before I had the chance to move on it.  Oh wel.....on to the next one.  

2015 was probably one of, if not the worst years of my life.  I'll be turning 40 in Jan. and while I'm not happy about it, I think that's a good driving force to kick my butt in gear and try to make 2016 one of the best years of my life.  

My goals for 2016 are to fix and flip my first 5 properties.  I'm not sure if that's too ambitious or not ambitious enough for my first year doing this but I feel good about it so far.  I'm already in the process of getting money secured to buy my first investment property so things are starting to happen.

On a personal level, I need to get more in shape.  I've been on strict diet since August and have already lost close to 30 pounds and almost at my target weight.  That has really helped my mental health and getting me more excited about the upcoming year and I'm in a totally better place mentally than I was 6 months ago.  

Here's to making 2016 the best year ever!

Hey everyone! I'm looking to purchase my first investment property.   I walked through a bank owned home today for the first time.  It appeared to have a serious mood issue so I'm wondering if anyone else in Grand Rapids or West Michigan has dealt with removing mold and if you have any experience or recommendations  for companies that do it.  

Also interested in referrals for contractors that can walk through it with me to give estimates on renovation costs.  

Thanks for any help! 

Jonathan