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Updated over 7 years ago on . Most recent reply
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Newbie seeking advice
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