All Forum Posts by: John Ramirez

John Ramirez has started 7 posts and replied 40 times.

Originally posted by @Lynn McGeein:

I'd be cautious about letting lender know you're planning to turn it into a rental as I believe you'll need to verify that you're remaining as owner-occupant in order to cash-out refi, or you'll need to pay for investment loan cash-out refi costs, usually higher rates and less amount in cash than owner-occupant. As for HELOC, things may have changed, but when we used our HELOC, it stated it was for primary residence and they could freeze it if we were no longer owner-occupants. We used our HELOC to buy homes at auction, fix up then take a loan out, pay back the HELOC, and repeat. It worked well starting out. But we remained owner-occupants during that period.

Thank you,

After further homework and coming up with a solid plan. Ill be going a similar route as you did. I'm going to HELOC and repeat as well and put the dream home on hold for a little while longer. Thank you all for the advice.

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Same here, I’m currently looking for property. With COVID it’s been slow for me to network so it’s been books, youtube, and BP for me. I’m also in Fort Worth, Saginaw area.

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I no longer live in Abilene but I’m just 2 hours East in Fort Worth. I’m looking forward to investing in Abilene if you guys get a meet up going. I’d like to attend. I live in Abilene for 27 of my 37 years of life.

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@David New I was eyeballing them today. Thanks for the info I think I’ll give them a shout.

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I'll be looking to refi cash out my current primary home, use it as a rental. I want to take that money for a DP on a new primary. This will be my first investment property. Would a lender be willing to work with someone doing something like that? or do you think that would it over leverage? I'll still have plenty of emergency cash put up. But I've never done both at the same time. Or any other suggestions? I'll pull about $100k out and I'll leave 25% into my current home. I've thought about HELOC but I was told I should not use it for Long Term. Anyways thanks I'm advance.

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@Robert Carter

Congrats! I hope to have my first in a couple of months.

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@David Reo I’d be interested if you find anything in Fort Worth.

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New to REI looking to connect with you guys in Fort Worth and Abilene areas. I'm in the north Fort Worth area of Saginaw. Would like to take the chance to say Hi. John Ramirez 36 years of age small family and I'm ready to start getting my REI portfolio started soon. My goal is to purchase 1 investment property a year for the first 3 years with good returns of course. But also so I can start getting some experience because none of what I'm learning is no good if I'm not putting it to use. Feel free to drop a line and if you're in the area and open to chatting I'm working on becoming a better listener. I don't know much but I am and have always been a determined person. Thanks for reading this hope to connect with many of you soon or in the future.

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I’m originally from Abilene and thinking of buying out there. Keep me in mind

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@Ryan Savage I'm in Fort Worth also. Very new to investing and the area for the most part. I'd like to network and learn more. Any guidance will be appreciated

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All Forum Posts by: John Ramirez

John Ramirez has started 7 posts and replied 40 times.

Post: Turning my primary into a rental

Post: Networking Opportunities - DFW

Post: Abilene Tx meetups??

Post: HELOC Recomendation on Primary Residence

Post: Turning my primary into a rental

Post: Finally I purchased my first investment property

Post: Picking a Market and Boots on the Ground

Post: Fort Worth and Abilene Texas

Post: Abilene, Texas Investor Meetings

Post: New to the game and looking for guidance