All Forum Posts by: Will Stewart

It definitely helps. I had started and am in the process of finalizing my HELOC. Thanks again for being willing to answer questions. I probably need to go through the real estate rookie class! I appreciate your time!

Wale, 

Thank you for your reply. I did not realize rates may change based on the use of a HELOC. I definitely do not want to use up all of my cash on a purchase. Can I ask for a brief and dumbed down explanation of using a HELOC for down payment and then refinancing the rest of the borrowed amount? I think I understand it but I figure having it explained again can't hurt. Thank you again for your help!

I have been presented with an opportunity to purchase a duplex in a thriving college town. The price is a little more than I want to pay but as of now I have not made an offer. I have reached out to several lenders that my realtor in the area recommended and am waiting to hear about loans. My question and the advice I would seek is what is the best way to use a HELOC for this situation if I decide to do so? Is it best used for just the down payment or should I try to use more to lower the loan amount? I am still going to run the numbers on the biggerpockets calculator but would love to discuss this with a seasoned investor if someone doesn't mind. Thanks so much!!

Thank you Greg. I have been looking at a website and they throw all these terms and numbers out and I have no idea what is relevant and what isn't. Your reply helped out a lot. Thanks again.

I am trying to learn about annualized return, cap rate and gross yield percentages. I am not a numbers person so if someone could break this down on a simple level or direct me somewhere that could I would appreciate it.

Hey everyone. I am in Alabama and looking to purchase my first two homes for rentals. They are relatively cheap, one at 35k and the other at 45k. My question is, should I finance on a normal 80/20 or should I try to pay as much cash as I can? Or would it be better to pay cash for the 45k and finance the other or vice versa? I would like to use as little of my cash as possible but also want to increase my cash flow as quickly as possible. Any advice would be greatly appreciated as I am scared to death to even get started. Thank you everyone!

Hey everyone. My name is Will Stewart and I want to get started in buy and hold but have yet to make my first purchase. I hope to change that in the next few weeks. I do have a few questions I would like to ask and have anyone answer. First, what do you consider to be the best buy and hold property type? Second, what amount of passive income would be a good target? I have heard $200-$250 but am not sure if that is more location dependent. Lastly, what are the best finance options you have found to use little to no money out of pocket? I would like to do FHA but what are some other good options? Thanks so much for your time and help. I appreciate any input.

Hey everyone! I am a real estate rookie. I have yet to take the plunge but my interest is piqued. I have been reading, listening to podcasts and trying to learn. Here is my scenario: I have a 13 year old and she repeatedly states she wants to attend a particular university. It is in a beautiful and growing city. I have thought of purchasing a single apartment or condo that is considered off campus student housing. Does anyone have any good information to point me towards or advice to give. I have talked with one realtor and have another to talk to. I am going to contact my CPA and an insurance agent as well. Thanks for the support and being so generous with your knowledge. I look forward to the replies!