All Forum Posts by: Trevor Brown

@Scott Jensen If I have an killer opportunity knocking at my door but do no have the money for down payment, would it be wise to take advantage of the CARES Acts penalty free withdrawal to fund the down payment? Or would it be a better move financially to reply on private money for the downpayment? Thank you in advance!

Hey BP! Seeking advice here! So currently my family and I are renting, and honestly quite tired of it. So after saving for a few months, we got pre approved for a 5% Conventional loan through a local credit union. We're meeting with our Realtor later today to get this thing going. So as of now, my plan to early retirement is buy & hold. This is my first time purchasing a home and I'm having a hard time trying to decide on my strategy. I trying to buy a primary residence to use as a kickstarter to my real estate investing. So my thoughts were to buy a primary residence, live in it while saving for a new home, the rent it out. But this seems be the very slow route. My other thought was to find a livable home with as much equity as possible, and using a HELOC to make the downpayment on a second. I really like the idea of "the stack" that Brandon Turner talks about, but I'm also worried about the market taking a turn downward and the banks freezing the HELOC. Any advice would be much appreciated. I'm still reading and learning as much as I can, but books don't tell the same as personal advice from another investor. Thank you in advance!

Hello BP! I am seeking much needed and appreciated advice from anybody in a position to give it! So, I am stuck in a rut and need advice from someone smarter than me.

ABOUT ME: I am a 21 year old male, I am engaged with a 3 year old little girl and another on the way. I am a machine operator at a chemical plant based out of Cincinnati, OH. My annual gross salary is $70,000. I have a credit score of around 780 +/- with short history. We do not live very frugally but we do budget, we don’t have shopping addictions or blow a lot of money either. I currently have around $6,000 in a savings account and have recently been able to start saving about $1000 monthly.

THE PROBLEM: My fiancé and I are kind of stuck in a pickle and somewhat butting heads on our upcoming future. We both agree that we need to get out of an apartment and into a home for our family. currently, all homes within a 30 minute radius of my work rent from around $1,300 - 2,000+ which is more than we are wanting to spend. We agreed to buy, but she is looking for anything nice, fixed up and move in ready. I am looking for something as an investment, something to set a solid foundation in my future real estate investing career but I know that currently it is a sellers market.... so far I feel my options are find a home by the end of the year, or overpay to rent a home and wait (hope) for a recession and purchase a home for cheaper. I really need somebody that can help me. Thank you for taking your time to read my book of a post and thank you to anyone that provides some clarity to my life!

Hello BP. I’m sorry if this is in the wrong topic category, I was not sure where else to put this. I have a business proposition I would like to pursue with a real estate investor and the owner of my work. Last month we were having an annual meeting about how profits are up, expenses, new jobs within the facility and whatever else they rambled on about for an hour or so (I started zoning out). During this meeting I happened to tune back in when they mentioned that 40% of all profits were going to taxes. I instantly thought to myself, “couldn’t they invest some of the profits into real estate in order to gain a return and take advantage of the tax breaks that come with it?” Then it clicked, what if I were to bring together a reputable investor that I know with decades of experience and 80+ properties and the owner of our multimillion dollar company in order to use the taxed dollars as capital for the investor while benefiting from the tax breaks, creating in (at least in my head) a win/win situation, and for my take a small percentage of the profits for being “the middleman”. Am I in over my head? I would love for this to be a reality but I am only 21 years old, have yet to purchase a property for myself and am not a business man or professional. ANY advice on how I can make this happen, big or small would be more than greatly appreciated! Thankyou to anyone who responds!!