All Forum Posts by: Andrew Marzec

Hi All, I'm confused on the math when it comes to the HELOC. If my investment property is worth $81,000 (value it was recently appraised at) and I paid 77,250 for it and put 20% down ($15,450) how much could I take out? Or do I have to have a certain % of equity in it? Any help would be appreciated!

Thanks Gary Harris ! When and where does your group meet?

Hi John Hickey thanks for reaching out. Although I have yet to find a local mentor I have been learning a ton through the forums and from bigger pockets members. I took the leap and purchased my first rental which closed in the middle of this month. I hope to purchase another one very soon. I am also currently in the process of closing on a multi family in jersey city which I will house hack for at least the next two years while I continue to search for others deals.

Kyle M. The HELOC is 100k and the properties I buy are 60k-80k depending on how many bedrooms. I am investing in upstate NY. Not sure how long I would have to wait to refi but it does sound like a very good idea. The fact that I could repeat this strategy over and over is excellent as well. Thanks!

Greg S. John Powell Thank you both for your input it is greatly appreciated!

Greg S. Thank you Greg. So since I don't want to tie my money up in this property would you suggest using the HELOC for the 20% down and then mortgage the remainder?

Hi All, My parents have been kind enough to offer me access to a HELOC on their primary residence. I have been buying student rentals and been doing well so far. They have seen my success and offered to help me grow even further. Has anyone had any experience paying for an investment property (in full) with a HELOC? I have seen a lot in the forums about using a HELOC for the down payment but have yet to see a thread about buying an investment property outright using one. Is it allowed/possible? Any advice is greatly appreciated. Thanks!!

Hi All,

I have been interested in RE investing for a while now( reading countless books and listening to the bigger pockets podcast) and would like to learn from/shadow someone with industry experience. I live in the NY/NJ area which Is the region I would like to start investing in. I am also interested in investing out of state however I feel it would be beneficial to get my feet wet in an are that is near me first. If anyone has any words of wisdom or knows someone who helps new investors in my area it would be greatly appreciated. Thanks in advance!

@Wendell De Guzman That makes sense. I appreciate your help.   

@Wendell De Guzman awesome thank you! 

As far as vacancies there is a 5 year contract with the existing tenant in place. Would you still account for vacancies in your spreadsheet?