Diane's Journal

Hi Diane,

Welcome to the DG site.
I had nearly the same amount of time in the IT business as you do in the nursing field before I began my new venture in Real Estate about 5 months ago. Prior to that I was just poking around here and there without any real commitment to change. Then when my job was eliminated at the end of February, I finally got serious about Real Estate. It's funny because I was probably in a better position to get started when I had the job. There are a few more obstacles financially now that I do not have the 9 to 5 but what I do have is more time. On Tuesday I will be closing on my 2nd deal!
The first thing I wish I had done while I still had the job is to have taken out the biggest Home Equity Line of Credit (HELOC) possible (assuming you have equity in your primary residence). The reason to do that is because the terms of a HELOC are very favorable and you don't have to use ANY of it if you don't want to, and the interest is deductible on your taxes. The biggest reason of course is that you can use that money for investing in another property. But, if you try to open a HELOC without having a strong source of income like a steady job.... the banks aren't going to even consider it in most cases.

Roger
The Jaguar Investment Group