All Forum Posts by: Amalia D Salinas

I have an opportunity to purchase a home, that is almost move in ready ... home is selling 65K, may need about 20K for updates and surrounding homes are selling between $100K - $200K ... I have $90K in my HELOC ... should I pull it or finance half of what I need ...??

What are some of my obstacles and what should I know before pulling from my HELOC?

Thank you!!!  

Anthony .. that is great information AND these two homes are in WI! I will be adding this information to my notes for later ... I have a lot of notes and would like to reflect on this later.  Thank you so much!!! 

Hi there ... I have an opportunity to buy two homes.  Each home is a rental and each homes has (2) units. Currently, there is already (1) tenant in each home. Per the location, other homes in the area are renting between ($850 - $1,100). One home is selling for 94K (Built 1894) and the other home is selling for 115K (Built 1917). Per more research, the other homes in the area are worth much more than what these two homes are selling for ,.. meaning, the home is worth more than it is selling ... Hope that makes sense. The question I have is, "what do most landlords pan out in the responsibilities of the renter?" ... Meaning - what would they be responsible for paying, outside of the rent? ..... What is more appealing for renters ... and will it attracted a better quality of "renter" ... I hope this make sense ... 

Thank you

Amalia