All Forum Posts by: Amy Hu

 thanks! I talked with 3 brokers and it seems that they'd only provide construction loan at this point. 

The HELOC terms are much better.

The building in OH we're looking at needs renovation and is currently vacant. It'll cost around 150k and about 6 months. Once we finish the rehab, we can refi the building and pay back the HELOC.

We have excellent credit, high income, low debt and steady cash flow coming in. We also have SFR (paid in cash) in retirement account and cash in Roth IRA. Our primary residence has 300k+ equity.

We have cash to buy the building but need money for rehab.

It seems that traditional commercial mortgage would be difficult. 

Considering the hassle, cost and interest rate, is HELOC a good idea?

Is HELOC A good idea?

 Can I also get a copy please? Thanks! I'm doing due diligence on a building.

 thanks. I'll do that. 

By local, do you mean CA, where we live, or the area where the apartment locates?

Also what kind of banks are better to work with, credit union, small regional bank or large banks? 

small apartment, say 10 unit under $1mm

We hold a few SFR in Cleveland, OH in our Solo K account. And some cash for investment. we have excellent credit, high income and low debt.

We're planning to invest in apartment buildings out of state and would love to explore financing options. 

Thanks!

It's a single family house out of state between tenant transition. My property manager just told me the bad news： its broken in and furnace stolen etc.

I guess I have to bear the loss as owner? How to avoid such loss in future?

thanks

any good recommendation? thanks