All Forum Posts by: William C.

Hey Rick I've been thinking of doing the same thing. Rutgers University has been pouring millions into that city, the police department has been restructured and it's close to the waterfront. I believe Camden will be a hot spot in the years to come.

I apologize for not properly introducing myself. I was so overwhelm with the knowledge on Biggerpockets that I jumped straight into my question.

I'm William Campbell from Philadelphia Pa. and like I said I've been trying to get into real estate for at least 10 years. I've had many set backs but like they say it's no better time like the present. I'm currently a police detective for the Phila. Police Dept. I've been on the force for 13 years. I like what I do but when I decide to walk away from the force I would like to be in a great position financially so I can really enjoy life.

Thanks Rob. I'm going to see what the banks are saying and make a decision.

Thanks Sean.

Thanks Ned. I guess now I have to find a bank that will give me a equity line of credit secured by the investment property.

Hello everyone

I'm Will from Philadelphia Pa. I've been trying to get into real estate for a while now. I finally got my first property at a good deal, it's currently being renovated and should be up and running by April 1st. I wanted to put it back on the market for a good profit and buy more properties to hold and rent out. I decided to keep the property to rent out, I wanted to take out a home equity loan but a lot of banks want you to own the property for 6-12 months. I have a couple of questions.1. If I own the property flat out, can I take out a HELOC on the property and rent it out? 2. Does the property have to be in my name for a period of time before I can take out a HELOC?