All Forum Posts by: Adam Parker

@Patrick Menefee thanks for a refreshing topic

I’m doing social emotional lessons online while students are not in school. Go enjoy and smile!

https://youtu.be/rEvfjsTpJiE

@Teresa P. I’d like to retire from my education job, and have my rentals pay better than my retirement. I’m a psychologist and hope to open a clinic offering free counseling, job interview help, resume writing and life skills. I’d like the rentals to cover the costs so it can be free to those in need.

Hi all, i’ve got about 200k in equity in my newest property and I’m wondering everyone’s thoughts on taking out the equity and getting a multifamily (here in Denver 550-750) or buying a single family home (290-320)

My portfolio is my single family I live in, this new property which the main house is rented out per room and making 1400 more than the mortgage a month and an apartment making 100 more than the HELOC payment.

Thanks!

@Mohammad Haidarasl what kind of rates on your debt ? I think depending on what rates you can get on a mortgage that could be a better thing to paying down all the debt

@Sergio Salinas @Richard Bowman hi all, I just used my HELOC to be my down payment on my newest property!

I got a great deal at Bellco credit union that was 3.99 FIXED! I’d recommend that fixed rate if you’re planning on holding for a while, just for stability and predictability purposes. Shopping around many places offer a great fixed rate for a year that then turns into something like prime +1% or so.

I thought it was a great way to get the capital for a property. Some other advice I've gotten is to then refi the newest property, pay off the HELOC and do it all over again

@Matt M. It was at BELLCO it was an August promotion.

Send me a message and tell me more about the refinance idea

@Jim K. Thanks ! Fortunately the HELOC is a fixed rate so the price won't change 

Thanks Kyle. My psychology battle is wanting to pay it down NOW! Haha 

Hi all

New to investing but just purchased my second property in Colorado. I own a single family in Centennial (3.5 interest rate) at about 50% equity and took a HELOC out to (fixed 3.99 interest) to purchase my newest property in Denver (3.49 interest). Newest property will be cash flowing 1145 a month after paying HELOC and Mortgage. My question is should I pay down the HELOC since it has the highest rate (new withdraws will not be at the 3.99 as that was a promotion that ended) or should I save money and start saving up for the next property. I am already 30% equity in the newest property as well, so another HELOC and another property would be a possibility.

Any advice and thoughts welcome! Thanks

Yes