All Forum Posts by: Miguel Dormany

Mindy, 

Thank you because this is exactly what I'm looking at doing. I reside in Italy and am searching how exactly to find someone that I can partner with to grow exponentially together. 

Thanks again,

Miguel

@You Jung good luck to you. You have to come to the right place. 

@Manson C. Hi, your best bet would probably come from searching that of smaller banks. Good luck.

Hi @Jose Hooker and welcome to the BP family, 

You have come to the right place for real estate. Ensure you check out the webinars and as any questions you may have on the forums. As this is a mountain of wealth here on BP.

Miguel

Hello BP, 

Here's my question. I have a rental property that doesn't have a mortgage. I am wanting to use the equity to purchase more rental properties. Don't know if it is best to Refinance or do a Home Equity Line of Credit. 

I tried to do a refinance with my bank Navy Federal Credit Union, but because I don't live in the property I can't do a refinance as a primary or secondary home. 

Any help is greatly appreciated.

Thank you

@Kip Metler Welcome to BP.  You have come to the right place. Anything you want to learn about RE Investing can be learned here. 

Good Luck!!!

@Adrion Thomas Welcome to BP.  There is a lot of information here on wholesaling. You have podcast, forums, blogs, and even webinars.  Learn as much as you can and if your not certain on somethings throw your questions up on the forums. You will have many RE investors steer you in the right direction.  Keep looking forward to your goals and don't stop. If you fall down and you will because you won't get everything perfect, learn and get back up and keep trucking. Good Luck

@Ryan Drowne welcome to BP.  You have definitely come to the right place.  You and probably more than half the people here have gotten in RE due to that book.  The book also opened my eyes to RE and is why I'm here. 

House hacking is an AWESOME strategy. Great place to start and get your feet wet. Read and listen to as much as you can get your hands on here on that topic, there's TONS here. 

Good luck!!!

Miguel 

@Jered Sturm WOW, that was an AWESOME explanation. I learned a couple of things from your post. I always thought that my COC of 7 or 8% wasn't much of anything considering you can make this in the stock market without hassles of tenants or law suits. As you said, I never considered the tax portion with depreciation and equity in the property.

Here's a another question for you since you really enjoy this. I paid cash for 3 properties and want to refi to pull the cash out to purchase other homes. The COC on this is a lot lower since I'm not paying taxes on the property since they are all paid off correct (leverage)? And two, should I get a portfolio loan and do all 3 together or should I do them separately?

Thanks in advance and also thanks for the post. 

Miguel 

Nice and easy, just the way I like it. thanks