Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 12 months ago on . Most recent reply

User Stats

3
Posts
5
Votes
Jesse Grim
5
Votes |
3
Posts

New to this and hoping to find some helpful tips

Jesse Grim
Posted

Hello, I am just starting out and have my first property renting out bring back around $900 a month while no maintenance or other issues arise. I didn’t have to put the 25% down since bought it as an investment property but  with that, to have around 100k in equity and I’m trying to figure out the next steps,  

Is there any way around having to wait the 6months to do a heloc or cash out, and when I do to actually do it is there any way for banks to not look at income as a factor if wether or not I am approved?  

Also, what is it about an LLC, should I get one to put this property under, and a different LLC for each future property?

My plan is to use the equity starting out for a profitable fix and flip or 2 then obtain another rental property,    I’m just so confused with the equity because how am I to keep being approved for the loan with having so many open? And with just starting out not having much source of income rather than my personal job,   Thanks and sorry for all the questions,  I wish I could say that’s all but no where close. 

Loading replies...