All Forum Posts by: Drew Castleberry

That's awesome! Wish I had a private lender with deep pockets! Just curious, what rate are you paying your private lenders?

You can get a secured line of credit against your savings and any investment funds you have with your bank.

I currently have a secured LOC through Wells Fargo, getting an interest rate of 6.5%. Their rates range from 6-9%. The only down side is that you can't utilize the funds tied to the LOC but you can always request to reduce or raise the amount the LOC is tied to if you need to use some of the savings or add more.

Huge benefit of being able to pay cash for a property, or for the down payment. Only problem is if you use it for your down payment, you need to make sure the property cash flows enough to cover the mortgage payment AND the debt payment for the LOC, however the payment on the LOC will be interest only.

I haven't been able to find ANY lenders that do a 75% LTV on a refinance. On the initial purchase, no problem, but regardless if it's a normal refi or a cash out, everyone I've talked to its 75%. You might have some options for commercial, but that's a bit trickier with other requirements.

Technically if 2 of the rooms don't have closets they can't be considered bedrooms right? So in reality it's 4 bedrooms.

By combining the 2 and making it a master like you said, you'll add a considerable amount of value to the home and equity, as long as you do it cost effective.

Good luck!

Just remember that when you buy the discounted tile, make sure you get plenty of extra. There will be tiles that need replaced and you don't want to find out that the tile you bought is discontinued and you can't get anything to match it. I always get an extra 50-100 sq ft depending on the price and store it in the attic.

Try limaonecapital.com

There's also an extensive list of HMLs here on BP

Also try ziply and compare them all 3, that's what I do. Sometimes zillow is close and other times its not, pretty hit or miss.

Welcome @Eric Fonville! There are quite a few great members from the Upstate on here. Do a search in the Forums for Greenville, SC and you'll find some good threads and the different people to network with. Good luck!

Dang I wish I could make it but have a meeting with my realtor Thursday night to review the market out in the Simpsonville / Five Forks area and putting my house up for sale. Have fun, hopefully I'll be able to catch the next one!

To me it's not surprising that the stock market is crashing. I think it has been over valued for awhile and the currency manipulation in China has a large effect on everything as well. I don't think it'll have much of an effect on the overall real estate economy, if at all. I think the underlaying factors in the US economy is stable.