All Forum Posts by: Benjamin Dutil

Hi BP community. I bought a 3-unit with cash borrowed from a friend at 4.5%. I wanted to implement the BRRR strategy right away. I bought the property at 60 cents on the dollar. I sought a cash out refi from my local Bank of America. They said I would have to wait 6 months until I apply for it. Is this common? Am I seeking funds from wrong place? Any and all information is greatly appreciated!

Can you tell me more about the cash out refi? I own a three unit in New Hampshire. Deeds in my name and no liens or mortgage. Bank of America said I would have to wait 6 months before cash out refi. Am I looking in the wrong place for the refinancing??? Thank you!

Originally posted by @Cristina Varney:

@Benjamin Dutil My husband and I run The Southern Maine Real Estate Investors Association. We hold monthly meetings the 3rd Tues. of the month in Standish. Our next meeting is next Tues., 3/21 at 6:30 pm. Please feel free to message me for more info.

 Thank you Cristina. We have actually emailed one another a couple months ago. Unfortunately my 9-5 is actually 1:00pm to 9:30pm. That's a big driver for my motivation to invest in real estate! 

Originally posted by @Bradley Tetu:

Welcome @Benjamin Dutil! Sounds like your doing great so far!

 Thanks Mr.Tetu. The purchase was the easy part now comes the rehab and a moderate investment of sweat equity!

Originally posted by @Raymond McGill:

Congratulations, Benjamin! If you are near Portsmouth, we are having a Real Estate Investment club meeting next Wed night. Its in the events section. Look forward to meeting you.

Thank you Mr. McGill! I will look into the REI club meeting. Its time to start building my network. Thanks again.

Originally posted by @Joseph McGranaghan:

Hi Benjamin. Welcome! I'm right across the border in NH if you want to connect. Congrats on the purchase of the 3 unit!

 Thank you Mr. McGranaghan.

Hi BP community. I'm a Maine native working a full-time 9-5 job with some short term goals of creating passive income streams. I'm a newbie to the real estate world and recently purchased my first 3 unit in New Hampshire under my newly formed LLC. I love to listen to real estate investing podcasts on my commute to work or while working in the shop. I'm actively seeking to buy a home of my own to start building equity and reinvest in other opportunities. I look forward to building partnerships and friendships along the way.