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Updated over 7 years ago on . Most recent reply

User Stats

7
Posts
0
Votes
Preston Pearson
  • Rental Property Investor
  • Mooresville, NC
0
Votes |
7
Posts

Newbie seeking advice

Preston Pearson
  • Rental Property Investor
  • Mooresville, NC
Posted
Hello BiggerPockets, My name is Preston Pearson; I'm a newbie investor hoping to learn new ideas to build my income. I am originally from North Carolina and living in beautiful downtown Brooklyn, NY. I work in the aviation industry. I've learned a lot reading the BP blogs and forums over the past several months. I am looking for some advice on a single family property I recently purchased in my hometown in NC. Here goes: I recently purchased the home paying cash so the home doesn't have a mortgage( I got lucky). My plan is to rent the home. The property is in fairly good condition but the roof needs to be replaced. The question I have for BP is should I try to get a HELOC to fund the roof replacement or should I pay out of pocket then refi? Roofing estimates are ranging from $4400 - $6000. Any advice or recommendations will be greatly appreciated. Thanks BP, Preston
  • Preston Pearson
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