All Forum Posts by: Tyler D.

Hey folks! I'm gearing up to purchase a four-plex in my area for $192,000 with a conventional loan with 25% down and 5.25% int. This is a serious value-add property and plan to BRRRR it. Unfortunately, I don't have the cash for the down payment, so I am using a HELOC for that. My mother is lending me the HELOC and I want to refinance her funds out ASAP, so I was wondering if a same-day refinance was a thing. My lender told me that there isn't a required holding time for the prop. Can I purchase the property and refinance it immediately after closing to get her funds out?

I want to avoid purchasing the property on low down FHA because taxes, insurance, debt pay-down and private mortgage insurance is too high to hold property at current rents (negative cash flow).

Hey @Claire Fenton, thanks for reaching out! I didn't mention a property management team because our goal is to learn the management world inside out by starting with our own rentals. Eventually having enough know-how to start our own PM business to manage our properties along with others!

We would highly appreciate any referrals for folks in this area! I will direct message you!

We need a team willing to work at our pace:

Some friends and I decided to team up and build a real estate investment business following a summer of chasing dollars and working ourselves to the bone.  We each have a remarkable ability to, as David Allen says, get things done thanks to the motivation provided by BP. However, we are struggling to find people who have similar drive and haste when dealing with everyday tasks. It feels to us that we could be accomplishing enormous amounts of work, except, we are forced to jump through hoops and our progress depends on the willingness of others who naturally move at their own pace. We are in the Boise, Nampa, and Caldwell, Idaho areas and would love the help! 

Does anyone have advice on seeking out people (RE agents, escrow officers, inspectors, contractors, loan officers, etc.) who are willing to work at our speed? 

Thanks for the help! 

Tyler DeLay  

@Chris Kane Thanks for the warm welcome! It's certainly a growing place with promising opportunity. 

@Corby Goade We would love to connect. We are always eager to meet with folks in the area and share visions!

Hey BP folks! 

I'm so excited to finally post my new-member introduction to the BP forums. I've been a member for a few months now and wish to utilize this tool as it was intended, to network. 

My friends Sean, Erik, and I have partnered up and established our LLC with dreams of becoming passive income earners via multifamily long-term holds and single family flips in the Boise, Nampa, and Caldwell, Idaho markets.

All three of us came to the conclusion that we wanted to have a positive impact on our communities and our world. In order to fulfill our goals, we need more time and what better a system than real estate to provide us with both time and sufficient income.

We are all home bodies who believe that happiness is amplified when shared, so we would like to take this opportunity to reach out to our new community and make as many pals as possible!