All Forum Posts by: Account Closed

My tenant paid April rent but unsure about future rents should I apply for 10k grant for potential future months loss rent just in Case or wait and see? Don't want EIDL funds to be depleted before I have a chance to apply in Case I do need. Just want to be prepared

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how is the govt going to know you have rent loss... its such a small amount ..curious what others here think..lets say you put $3000 loss rent.how do they verify?

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if you have a renewal lease coming say may/june are you still increasing the rent on your tenants? or taking a wait and see approach

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Originally posted by @Christian Nachtrieb:

@Hank Austin I used my HELOC as the entire 25% down payment, and the remaining balance as the rehab budget. I'm currently putting in finishes on the property and will hopefully have a renter in there very soon, at which point I will have the unit appraised and refinance to pull my equity out and pay back the HELOC.

curious what if you buy 100k property using heloc (making aggressive cash offer) but the property is already to rent ready not much rehabbing could be done... how do you get your ALL your heloc money back out? best options after that

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Originally posted by @Tom Pentolino:

Hi Mikael, not sure if you were still interested, but I just opened up a HELOC with Penfed on my rental property. The experience was great! They were very fast and didn't even require an appraisal. The only little hiccup during the application review process is that their website to upload documents is a little confusing, and I missed one of their follow up requests since the communication thread on their portal isn't very clear. I called a few days later and asked for a status update, which is when they told me there was an outstanding follow up that I needed to address.

what were their fees any out of pocket costs?

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All Forum Posts by: Account Closed

Account Closed has started 0 posts and replied 56 times.

Post: EIDL SBA Loan advise

Post: $10,000 SBA Loan / Grant

Post: $10,000 SBA Loan / Grant

Post: $10,000 SBA Loan / Grant

Post: Mortgage forbearance - yes or no?

Post: $10,000 SBA Loan / Grant

Post: $10,000 SBA Loan / Grant

Post: What will be the impact of the Coronavirus crisis on real estate?

Post: Buying properties with a HELOC?

Post: Has anyone worked with PenFed (Pentagon Federal Credit Union)?