All Forum Posts by: Andres G. Hernandez

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Andres G. Hernandez has started 2 posts and replied 3 times.

Hello BP community. I wanted to ask what books you guys recommend for renting by the room and where can I find contract for that?

0 Votes

Quote from @Logan McKay Zylstra:

I would definitely NOT get a personal loan. A HELOC could be a viable option. You also have to look at your DTI when taking out these loans/lines of credit. What I would do (and have done personally) I'd wait until you can save up for the next downpayment.

For me, saving my second down payment was the hardest. Once you’re able to stack a couple of properties, the cash flow will allow you to build down payments more quickly.

Speaking just from personal experience.

Thank you guys! it seem like the best option is to wait and save for the next rental. The home I currently have is my primary residence. Im renting out the rooms and wanted to leave this one rented while I jump into another primary home or buy a rental in a different state to get a stretch on my money. If. you don't mind me asking which company do you buy turn key rentals from?

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I want to get into my second property, but having trouble on how to go about this. Im debating on getting a HELOC to put a down payment for the investment home or getting a personal loan. I could also wait and save for the next property but with how fast the market is moving I don't think that would be a wise choice. I don't know if I should stay investing in my hometown or go somewhere that has more cashflow.

0 Votes