All Forum Posts by: Ryan Copeland

Did you find a bank that will do the HELOC for you? I need to do one.

@Justin Phillips you did this on an investment property?

@Chris T. do you feel like you got a good rate?

@Trudy Homer I like what @Matt Ziegler said about getting educated.  There is so much you can do with that equity.  The first thing that came to my mind is sell it using a 1031 exchange and buy a small apartment complex in a different state.  

Question though. How is the home fully paid off, you're renting it for $2850, but you're only getting $1500 NOI? Where are the expenses coming from?

With $1M you can find an apartment complex that should cash flow $5,000 - $7,000 per month.

@Garrett Favier I’m following this post because my investing portfolio is very similar and need that level of service too.

@Jarrid Weber yep! The non owner occupied taxes here are a deal killer. You definitely have to buy right and win upfront in South Carolina.

How is BRRRR not getting your own money back? Since BRRRR isn't, can you explain what is? How would one get exponential returns?

After I sent this reply, I saw where you responded to someone else and said 2-3 years for you is the goal, but 5 years max. That's around the same amount of time that I have been considering in my mind as well. Ideally, I want to BRRRR properties. If I can't, I do want to recoup my "seed money" as fast as possible. To me, that would be 2-3 years. Like you, to leave my money in a deal for more than 5 years, then there needs to be some other type of upside to the deal.

@Joe - What do you mean by never using your seed money? Are you describing the capital an investor would use to purchase property? For instance, I have $30k cash and I plan on buying a $100k property. In this case the $30k is my seed money right? If so, it sounds like utilizing the BRRRR strategy to be able to keep all of your seed money.....so you can put that cash to work elsewhere.

Hey Joe. I see your posts a lot on the forum and I like the feedback you give.  What do you consider a reasonable amount of time for an investor to recover their cash in an investment to break even as you stated?