All Forum Posts by: Timothy Davis
Timothy Davis has started 3 posts and replied 15 times.
Post: Purchasing a property
- Posts 15
- Votes 7
Quote from @Juan V Lopez:
I think purchasing with a HELOC is a fantastic idea IF:
1) You are planning to refinance the property immediately after to pay off the HELOC and keep the investment.
2) You are planning to sell the property to pay off the HELOC.
If you are using the HELOC to add value to a property and then use the project proceeds to pay back the HELOC, I think you're in great shape. But I wouldn't use a HELOC to acquire a turnkey property or something where you can't add a lot of equity quickly.
Hope this helps.
Thank you...that's the plan...
Post: Purchasing a property
- Posts 15
- Votes 7
Oh that helps alot
Post: Purchasing a property
- Posts 15
- Votes 7
Quote from @Juan V Lopez:
I think purchasing with a HELOC is a fantastic idea IF:
1) You are planning to refinance the property immediately after to pay off the HELOC and keep the investment.
2) You are planning to sell the property to pay off the HELOC.
If you are using the HELOC to add value to a property and then use the project proceeds to pay back the HELOC, I think you're in great shape. But I wouldn't use a HELOC to acquire a turnkey property or something where you can't add a lot of equity quickly.
Hope this helps.
Thanks....I have been studying the market and feel that I need to dive in...its been two years of studying...
Post: Purchasing a property
- Posts 15
- Votes 7
Is using a HELOC a good idea to buy my first investment property?
Hello Everyone,
I have been studying multifamily investing since covid ended my career with Special Olympics. I miss the athletes I have worked with over the years. Needing a new career for my family it's time for me to go after what I have been wanting to do for a long time. My goal is to own small apartments. I have excellent credit and resources but don't know how to start. Any information to help me get started like funding etc. will be a great help. Need a mentor will help tremendously. My family and I Thank you in advance.
Post: (New) to Multifamily Investing
- Posts 15
- Votes 7
@Johnny Lynum thanks for taking the time to give me your valuable advice I will look at the podcast.
Post: (New) to Multifamily Investing
- Posts 15
- Votes 7
@Alicia Loveless
Thank you so much for the information. You have made my day. Looking forward to sharing with you in the future.
Post: (New) to Multifamily Investing
- Posts 15
- Votes 7
@Alicia Loveless
Thank you so much for the information. You have made my day. Looking forward to sharing with you in the future.
Post: (New) to Multifamily Investing
- Posts 15
- Votes 7
Quote from @Andrew Hogan:
Hi @Timothy Davis. I was aiming for the 2020 Olympics (Pole Vault) and decided to hone in on my real estate career more fully. I'm sure you'll carry that same passion forward in life with anything you do.
Perhaps you can work for a top operator and work to 'learn' (not earn) in the meantime.
All the best!
Hello @Andrew Hogan
My fellow Olympian over coming was what SO was about thanks for sharing. Hope to talk with you in the near future...Awsome!!!