All Forum Posts by: Simon Terrazas Jr.

@Alyssa Dyer

I'd love to hear more about the area in Oklahoma that you are talking about. I'm just getting into this and have developed quite a passion for it. Let me know if your interested. Thanks for your time.

Well, as far as the housing market goes, there's gonna be a TON of 115K houses that have been selling for 240K go into foreclosure.  People are gonna be stuck in these insane mortgages......and as far as the container apartments, I would just pray I could rent Them to somebody for cost.  Believe me, I've thought about that......it's a volatile market, tons of risk.

Really?  I had no clue that you can't do it.  Where did you get your information?  

@George Blower

Thanks, George.

@Jason D.

Wow, ok. That makes perfect sense. I really appreciate the insight, Jason.

@Clifford Paul

Thanks, brother! Yeah, and I've never been. That's funny, a buddy of mine was just busting my balls for not going with him to the cigar bar last night.....I had to get up early for work.

@George Blower

Thanks, George!

@Jason D.

Ok, thanks, Jason. I appreciate the help, man. I'm determined to grow my portfolio, but I have to slow down long enough to learn the process. So what is your opinion on finding capital for my 2nd rental purchase? I used my own cash to get started, and don't want to over-leverage myself immediately. I have a daughter about to start college and another one about to turn 16 and need a vehicle. 🙄

@Jason D.

No sir, I'm paying 20% down on a property that I'm paying 130K for, and it's more than likely going to appraise for 148K.

Can somebody please clarify the HELOC for me, please? I'm going to be closing on my 1st rental property on May 1st. Upon closing, I will instantly have approximately 50K in equity in the house. I was under the impression that I can immediately refinance and then take out up to 80% of what the house has been appraised for. I obviously want to use that cash to then put down on my next sf rental. I was just told I can't do that for 12 months on a home that I do not live in. So what's the right answer? Thank you so much in advance for helping.