All Forum Posts by: Amy Parra

I plan to use a HELOC to buy my first property with cash in order to BRRRR. I'm wondering if this will affect my ability to refinance the property since it will give me a higher debt to income ratio.

If I use hard money to buy a property will banks 'see' that and count it toward my DTI ratio?

Thanks for your input!

I'm late in the game to this discussion thread... about 3 months, but thought I'd chime in.  I'm a new investor in Houston and would be happy to network with others in the area.  I can bring the financing and contractor/rehabber part of the deal.

Hi Matt,

Thanks for the tip about adding a picture.

I'm looking to invest out of state because my current location doesn't support buy and hold.  The main reason I chose Houston is because I have good friends there who are just starting in the flipping business and have good contacts for the rehab process and for finding distressed homes. My husband grew up in the area so he also has some knowledge of the area and contacts. 

As a beginning investor I am looking for reliable partners and these are a great match. Houston has experienced an 11% population increase from 2010-2018 according to census data and only 42% of homes are owner occupied; giving a strong and hopefully growing renter base. While newest government census data is not out for recent years, I'm finding data that supports continued population growth, although at a slower pace. Property values are steadily increasing as well.

If you (or others) have other information about investing in the Houston area, I'd love to chat.  It's been tough trying to determine a market to focus on and apply David Greene's 'out of state investing strategies.'  My one concern is that Houston is a saturated market with lots of other investors grabbing the deals.  I'm still looking at smaller, up and coming cities throughout the states that may not have such a competitive market.

Hello,

I am planning to BRRRR in Houston as an out of state investor. I'd love to connect with anyone in the area who is working toward the same goals.

Thanks!

~Amy

I'd like to get a HELOC lined up. My bank offers two kinds:

1. Equity Line Plus Interest only 
2. Equity Line Plus Principal and Interest
   

- Could someone explain why I would want to use one over another? The explanation for 'plus principal and interest is' - the same except it adds the qualifier "with an affordable payment of 1.5% of the balance."

Thank you for your advice!

~Amy