All Forum Posts by: Michael Lopez

@Hermanie Pierre it sure does feel that way!

@Ian Walsh I am pulling up the most desirable zip codes and will have my son drive for $. Hopefully, we’ll find a diamond in the rough.

@Babek Sandhar so you would be holding until the market crash? Doesn't lending get tighter during a crash. It would make it harder for me to pick multiple units even with what we already have. Also, my HELOC would potentially disappear because I have to assume the value of my home would also decrease? Thought?

@Deanna Opgenort I know what you mean. I already received one. Thank you for the encouragement! I appreciate it very much!

@Jason Allen that is great advice when so much advice is coming at me. Thank you!

@Lee Nestlerode absolutely helps. Thank you. Your examples are great and easy to understand.

Again, thanks!

@David Campbell thank you for the encouragement brother! After speaking to my wife and last night and sharing most of the suggestions that I received yesterday. We now tend to believe going a HELOC route would be the safest bet. I'm not sure if you read any of my other earlier replies, but my son started in the wholesale game and has begun building relationships with other wholesalers and investors. He can do that as an EMT with the time he has off. Our thinking now is utilizing the HELOC to pick up a property from him that meets our criteria for our goals.

@Michael Zau Local meet ups are never on the weekends out here. That makes it pretty tough to meet or network. So if there is anyone in the greater Tampa area that is on BP please DM me up because I do understand how @Michael Zau strategy would be a benefit.

@Lee Nestlerode I was just sharing the advice you gave to my wife and wanted to know your thoughts. If we took the HELOC is it really over leveraging if the money is not being used or if only partial of it is being utilized? Second, would you recommend just selling the home and not renting it in which we would just be "cashing out" on the sale?

@Jason L. We're going to have to take that into consideration and if buying in the greater Tampa area and my son manage it when we move, we would be okay with that.