All Forum Posts by: Lori Greene

I want to hear from anyone who has bought an investment property using a Cash-Out Refi or a HELOC.

1. How restrictive do you feel each of these options are?

2. What are the benefits?

Looking for mortgage experts in refinance cash-outs or HELOCS or for homeowners who have done this and what your experience was with it, advice, pro's, con's, etc.

@Win Kwok You are very welcome. Let me know if you have any questions or need help with anything. I am always happy to help.

While it is easier to get the loan when you already have the property lined up, you have to start somewhere. So, get your funding lined up first. Then once you do a successful deal, you already have a relationship with the lender for the next one. Then, line up your next property for this lender.

Also, if you want the easiest funding, where YOU set all of the terms (including the interest), start lining up private investors. That's all we ever use anymore. It's easy. Everyone you talk to, everywhere you go, strike up a conversation about what they they do for a living, that opens the door to talk about what you do for a living.

Say, "If you know anyone who wants to invest in real estate but doesn't know how, or anyone who wants to make a 10% annual return on their money without having to do a thing, let me know. I'll hook them up. They put up the money, I do all the work, they get their return usually in less than 6 months."

You'll be surprised at how many people will say, "I'm interested." Especially business people and entrepreneurs because they understand the value of investing.

Good luck!

Houston TX is huge with investors and a super hot market. Our comps service is national, yet 1/2 our business is from TX. It should be easy for you to find, network with and learn from lots of great investors around there.

I agree. If your lease doesn't prohibit smoking, wear and tear is a stretch. Learn from this mistake and make the lease more clear next time. Refund their money unless they have CLEARLY violated the lease agreement.

The only service of its kind. Fast becoming the "go-to" place for investors needing an accurate property value quick, Real Estate Comps Today is changing the face of home valuation for consumers.

After years of complaints from their real estate investing students on the inaccuracy of home value estimator sites like Zillow, sisters Jan Kerr and Lori Greene created RealEstateCompsToday.com, an unconventional site where consumers anywhere in the US can order a detailed Comps Report from a Local Realtor without having to contact one.

It's a simple concept. You fill out a short order form with details of the property, they assign it to an agent in your area, you get your comps report via email within 1 business day. Plenty of BiggerPockets members use this service.

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Just letting everyone on BiggerPockets know that you can now order Unlimited Comps Online from Local Investor-Friendly Agents anywhere in the U.S. And it's affordable for everyone.

Just fill out a quick order form and your order is immediately sent to a local agent who knows the neighborhood of the property. The agent then runs your comps report and emails it to you within about one business day.

We even inspect every report and follow through with you and the agent to make sure you receive only the best comps and analysis and in a timely manner.

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By "your gig" do you mean my area of expertise? Yes we specialize in determining accurate ARV in non-disclosure states because we don't use public data (which isn't available in non-disclosure states) to determine property values. Instead we use local Realtors all over the US to get investors real sold comps with analysis. But I'm not supposed to toot my own horn in these threads or I get a slap on the wrist. But anyone can feel free to ask me anything and I can answer.

I haven't used Legal Zoom much, just for an occasional form or two. I'm not sure if I'd trust them for legal advice though.

You're probably better off to find an attorney in your area or state who knows the laws there and is a member of BiggerPockets. I gotten some great advice for free from attorney's right here on BiggerPockets. Or you can ask local investors who they use who might answer your questions for free or for little cost.

Just ask them, that if you are creating your own LLC on the gov site, what advice do they have for you about DIY LLC. Most attorney's will try to talk you out of that because it's not structured the way they would structure it for the best protection.

But if you can't afford to use an attorney for your first LLC, you have to start somewhere. So learn what you can from the attorney's about how you should be doing it, how they will structure it for your best protection and why, and how much it will cost.

If you can afford it now, use their help. If not, make a plan to save up for doing it right and start your first LLC online so you can get started with investing. Then have them help you do it right as soon as you can.

Well the issue here isn't about being poor. Sounds like they will have plenty of money. The issue is how the kids will feel having to go from a nice house in a nice neighborhood to a cramped trailer in a not so nice neighborhood. But I do agree that this kind of change could be emotionally difficult for the kids and that those kinds of stresses do stick with you into adulthood. Very brave of the parents, but hard on the kids.