All Forum Posts by: Ariel Valenzuela

Hello! 

Does anyone know a lender who is allowing HELOCs on non-owner occupied or investment property?  Thank you! 

Very long story short.  A good friend of mine bought a home in Alaska but then moved to Florida and rented to a guy he did not research. This guy has been living in his home for over a year, has not paid rent, and claims he did work on the property (against the owners wishes/ acknowledgement), so he has since put a lien on the home.  This guy has multiple evictions, small claims and civil cases against him dating back to 1995.  He went to court yesterday on this matter and they essentially said there was nothing they could do and kicked it up to superior court.  Alaska has a eviction memorandum in affect due to COVID-19, until the end of June.  However they continue to extended the eviction memorandum.  At this point, my friend just wants to sell his home but we need to get this gentleman out, take care of these liens and try to recoup all of the money that is owed.  ANY INFORMATION WOULD BE GREATLY APPRECIATED, THANK YOU FOR YOUR TIME!

Thank you for the advice!  Very useful information.

We recently bought our second 4 plex. I financed one using a FHA loan. And we got another one under the home possible loan which is conventional. I'm trying to decide what the next, best move is.

I am tore. I’m tired for living in a four plex and would like a small single family home but I know financially it will be better to get a couple more four plex s first.

When I buy my next please place, any recommendations on using equity from one of the other properties?