All Forum Posts by: Ariela Perez

Thank you @Wale Lawal. I appreciate this valuable information. I agree 100% with searching for investor agents because they understand what the ask is! 

Hi Everyone. This is my first introductory post on BP so im pumped! . I have been a lurker for about 6 months on BP but I have totally been invested in education, reading and podcasts every night like an obsession… I am a healthcare worker and also a mom of 2 little ones working very long hours.. It took me a while but now I realize that my W2 is great but will not win my time back. Looking to start on my path to financial freedom now.

I have been trying to build a team out in the Triad area in NC for several months, from a distance. I live in NY. The Triad is a great location and I always want to invest into areas that I would either live in or visit/vacation in.

Would anyone here be willing to help me solidify my team? This area is booming and several of the realtors I have been in contact with are swamped which is totally understandable. I would love to connect with anyone investing in this area to hear about your experiences. Also would love to connect with any realtors that can assist me, and who maybe have experience with someone out of state. I have been looking at off market deals and would love someone to assist with those especially! I do have a property manager contact but need to find a go getter realtor(s) and maybe a GC or handyman contact as well if possible. I do have a contractor but it doesn’t hurt to have a back up person just in case.

Well, thank you all for your time! Looking to go over there over the summer to meet fellow investors and team. Hopefully can meet some of you in person.

Have a great weekend!

@Lee Radford, I thought it was just me, lol. Not entirely sure why but I just started researching Cleveland PMs and other members of the "core four" to see if I can put a team together and it has felt like pulling teeth for some reason..It has felt harder to research this market versus other markets I have been looking at. Hopefully our luck turns soon ;-)

Thank you so much for your reply, Alex. This definitely makes me feel better for sure! 

Your explanation makes a lot of sense..It would be more expensive to use the HELOC in the long term so i will use it for short term purchases and cashout refi when the bank allows me to.

Thanks again!

Hi everyone!

I am new to investing and to BP! So happy I have found this forum!

I have a good amount of equity on my primary home and currently applying for a HELOC. I have a high interest rate (4.375%) on my 30 year but I was able to pay a large amount of it down already and have about 10 more yrs to go.

The bank I am currently applying a HELOC with also recommended me to take a home equity loan for a 10 year term at a much lower rate of 2.9 % to pay off my current mortgage loan. So I am pursing that as well.

While all of this is in the process, there are a few investment properties that have peaked my interest. It may be weeks to almost a month before I get approval for the HELOC. I was able to obtain a preapproval for convention on any investment property using a mortgage broker at 4% but was wondering if it would be bad to try applying for a few more preapprovals with different banks to see who can give me the best rate for conventional? Would this be a problem for my credit being that there would be to many hard pulls or too much action going on that may affect my heloc application and vice versa?

Also: once i get approval for HELOC- for anyone whos used this- do you all use the heloc for downpayments? or buy all cash and refinance out of it?

Sorry for all the questions, but I am new and trying to learn what the best route is to hit the ground running! I am ready to start now :-)

Thanks in advance,

Ariela