Your video motivated me with an idea, so I just called someone who had an apartment for rent sign. I asked questions and had a good conversation. It was practice for getting over the fear of calling people. This exercise just gave me some confidence in getting over that hurdle. Thank you!
@@Felipemejiarei keep going. I'm aiming for my first deal this year. I discovered bigger pockets Jan this year and I know it will change my life eventually
I'm not even capable of investing but I'm helping my boyfriend the best I can by listening to you and following BP, one of the best times I'm having this quarantine. I wish we can talk to Tim's home inspector. More power guys!
Hi Tony. I have a commercial mortgage line of credit on my investment property. It acts like a HELOC but is on the commercial side of lending. There is also a mortgage filed with the county and I had to pay mortgage tax. I can pull money on and off of it as needed, variable interest rate and interest only payments. I was able to get this with a small local bank.
Penfed credit union does HELOCS on rental property’s 80% ltv... they use software for the appraisal, if it comes in low you can pay for a real appraisal. Pretty sweet
I went all in on my first deal because (exhausting my savings account) because I knew I had a great deal! My first property cash flows me $600/mo (currently have two properties that together cash flow me $1100/mo), and I have a 15% equity position in the first property! I'm glad I did! I talk about my experiences and knowledge about real estate investing on my RUclips channel!
i am not an investor yet, but i literally just said out loud to my living room tv (while watching this of course haha), "I am a Real Estate Investor", and i got goosebumps all the way. There is really power in words and saying it to the universe. Thank you guys for this
Great idea getting away for a while to get one's head together. If this virus doesn't mess up my plans, I'm taking a week long solo retreat to St Maarten in April. And it's specifically to work on ME, meditations and fueling up my brain to finally grow my business this year. Time to take it to another level!
Question...13 minute mark - There is discussion about "maybe I'll only put 5-10% down." Every investment property I've ever purchased was a minimum 20% with the bank. Is this conversation leaning more towards a cash buy with a loan origination after the rehab? What am I missing?
Generally, people may prefer to put 20% down to avoid extra fees and also to lower their monthly payments. It all depends on what is best for your financial situation. Here's a breakdown of the FHA: ruclips.net/video/_XeHdaU7bbo/видео.html
These rookie podcasts are gold! Thanks guys
I love the idea of this podcast! This is what I’ve been looking for for a while. Keep up the good work
Hunter Lisk will do thanks make sure to subscribe and download
Your video motivated me with an idea, so I just called someone who had an apartment for rent sign. I asked questions and had a good conversation. It was practice for getting over the fear of calling people. This exercise just gave me some confidence in getting over that hurdle. Thank you!
Love the drive and determination! That’s what it takes to make it big!
yes it does we all did it
I love this. My rookie heart is touched.
we try
@@Felipemejiarei keep going. I'm aiming for my first deal this year. I discovered bigger pockets Jan this year and I know it will change my life eventually
This was a good interview, Tim is ready for the world! I really had to listen fast to keep up with him lol great job hosting guys!
Ashly and Felipe are rocking up there , thanks for the content!
I'm not even capable of investing but I'm helping my boyfriend the best I can by listening to you and following BP, one of the best times I'm having this quarantine. I wish we can talk to Tim's home inspector. More power guys!
I have a contract on my first investment property in Florida. Trying to upload all the knowledge I can. Great Podcast for newbies.
Some clarification please......how are people getting HELOCs on properties that are not their primary residence?
Hi Tony. I have a commercial mortgage line of credit on my investment property. It acts like a HELOC but is on the commercial side of lending. There is also a mortgage filed with the county and I had to pay mortgage tax. I can pull money on and off of it as needed, variable interest rate and interest only payments. I was able to get this with a small local bank.
Penfed credit union does HELOCS on rental property’s 80% ltv... they use software for the appraisal, if it comes in low you can pay for a real appraisal. Pretty sweet
I went all in on my first deal because (exhausting my savings account) because I knew I had a great deal! My first property cash flows me $600/mo (currently have two properties that together cash flow me $1100/mo), and I have a 15% equity position in the first property! I'm glad I did! I talk about my experiences and knowledge about real estate investing on my RUclips channel!
James Holloway crushn it
Felipe Mejia thank you :)
James Holloway I will check out your channel.
Mili B thank you 😁
Love the advice on making a good phone call! Thank you!
Ariann Lane glad u tuned in
I can’t wait to be on Real Estate Rookie ☺️
i am not an investor yet, but i literally just said out loud to my living room tv (while watching this of course haha), "I am a Real Estate Investor", and i got goosebumps all the way. There is really power in words and saying it to the universe. Thank you guys for this
Great content, this is much needed for the Rookie's like myself out there. Thank you BP! Much love to all with your dreams and goals!
Great idea getting away for a while to get one's head together. If this virus doesn't mess up my plans, I'm taking a week long solo retreat to St Maarten in April. And it's specifically to work on ME, meditations and fueling up my brain to finally grow my business this year. Time to take it to another level!
I love this podcast! Just curious, did you guys purposefully get someone who sounds like Brandon Turner? Haha!
Just applied to be on the show, would love to be on it!
Question...13 minute mark - There is discussion about "maybe I'll only put 5-10% down." Every investment property I've ever purchased was a minimum 20% with the bank. Is this conversation leaning more towards a cash buy with a loan origination after the rehab? What am I missing?
Vacation properties can be acquired for 10%d= down
Awesome show. Very humble guy!
Love this show !! Wow Tim talk a lot he don’t stop lol
What a delight Tim is :-D I CAN'T believe Felipe and Ashley hadn't heard of I Did it my Way LOL!!
How do get a heloc on investment properties. Do you get a commercial lender for that ?
Inspirational, thank you
#awesome 🔥
What's benefit of putting 20% down if it is an owner occupied loan?
Generally, people may prefer to put 20% down to avoid extra fees and also to lower their monthly payments. It all depends on what is best for your financial situation. Here's a breakdown of the FHA: ruclips.net/video/_XeHdaU7bbo/видео.html
Short story long...I don't think the hosts were needed on this one, Tim loves to talk ;-) Cool info though, hope it all goes really well for him.
He talks how I think. lol
Your thoughts on Oklahoma making wholesaling illegal?
wutang23361 good, the wholeselling industry in general is very shady.
First like!
Benjamin Gault first comment
Can these be a little shorter
Boss Mon L.A 1.5 speed
Practical common sense/ he was psychologically prepared
Felipe Mejia is still in the closet.