All Forum Posts by: Kenneth Mims

70 to 80%

Thank you

I would like to find a lender that will give me a loan, line of credit on my single family investment that is paid off. I would like too not have an earlier payoff penalty and I am not looking for a hard money loan. The property has great rental history and value. Please let me know who I can talk to about this.

Thank you

Kenneth mims

I was hoping that someone could help me with this question.  I have a rental property that is paid for and I want to borrow the equity out of it for any future investments.  The property is at a near high right now and I want to take advantage of that, I have tenants that are great and pay me a very reasonable rent.  I estimate that whatever I borrow from the property would surely be covered by the rent I am getting now with left over cash.  My question is I don't have another property yet too invest in but I want to be ready with the cash just in case I do find something.  Its the end of the year and tax wise, should I wait until next year (Jan.)to borrow the equity or does it really matter if I borrow the money out of my property now?

I was hoping to get a little advice on cashing out the equity in some of my properties.  I own several that are paid off and have steady tenants in them for many years.  I was hoping to group the properties together and get the equity out of them for another business adventure.  When I talk to the lender, what exactly should I say or ask? this is the first time that I will be taking equity out of my properties.  Thanks in advance

I would like to thank you both for the great advice, I really appreciate it.

I was hoping someone could help me with this, I am looking to take out the equity in a couple of my rental properties to purchase more.  How or can I bundle the properties together and get one loan?  Also if anyone has done this before can they recommend an loan agent, bank or etc?  And one last question, Should I find the property first or should I have the money ready for when I do find something I like?  Thanks

I looking to do my first brrr, but I want to ask my fellow investors, what would you do first.

I own 3 rentals and they are fully paid for, I wanted to get money from them to use toward my first brrr.  So what would you recommend first

1. Find the property?

2.Get the money from the equity in my properties?

3. Find a contractor?

4. or something else?

I would appreciate any feedback, but nothing negative because even though I have done a flip and bought rental units, I have never done this BRRR method before.

Thank you

I would love to connect with you and your friends and talk shop.  I also have several properties I have purchased being out of state and looking to do about the same plan your on.  I live in the Los Angeles area for now.

Not sure if this question was asked, but did you add on square footage to the house to get the additional bedrooms or was it there already?

Kenn