All Forum Posts by: Andrew M.

I have a HELOC on my investment property that I opened while still living there. It's with TD Bank. The property value has increased quite a bit since then and i would like to increase it, but i wasn't sure it they would entertain it being that its an investment now and not my primary home. I'm not sure if i would risk them closing the HELOC. Should i ask them to increase it? Or is it possible to get a second HELOC though someone else?

I have a close friend who's shopping for financing on his 7th home. 

Mortgage professionals are looking for far more reserves and qualifications for this home. it was explained that this happens after you have 6 homes already. Not sure why 6 is the magic number, but anyway.... He is considering a commercial loan with an interest rate of over 6 percent. Just wondering if anyone has experience with this scenario, and if there's some other option he isn't thinking of. 

Thanks in advance! 

Im from NY, but have been considering properties in Lake Worth or nearby. From what i've seen, the cash flow on these is great. It seems i would be able to pay a management company 10 percent and still make at least 10 percent cash flow on my investment. The rents are high compared to the price of the houses.   

So this makes me wonder... is it true that when the return is too good, there will be lots of problems? Im not familiar enough with the area so I'm cautious about the decision. Any input on Lake Worth from local professionals? Thanks!