All Forum Posts by: Bing Lin

@Sheila F. @Adam Anderson I know it is an old post, but I am just curious how the Statesville real estate market has changed since 3 years ago. 

@Dave Foster thank you for the clarification. Actually, we filed separate tax returns (Federal and State) for 2018, the quitclaim deed was just done in May 2019, so after we filed the tax return, how does this work now? Does it have to be that I am the only one on the new property? 

Hello all, I recently did a quitclaim deed to add my wife to the title (May 2019), if we would like to do a 1031 exchange this year, is there any restrictions that we should consider? Based on my reading of other forum posts, with the same taxpayer identify, both of us will need to be on the same title of the exchanged property, is this right? Thanks for sharing!

Smaller credit union and banks seem more likely to have better rate on HELOC in my experience. Back in 2013/2014, I was able to get prime rate (at that time was 3%) minus 0.25% from First Merit Bank (now merged with Huntington bank), so the floating rate at that time was just 2.75%; really missing those rates now. But your 5% from the local credit union is pretty decent in today's environment. What I normally do is to search for a few banks offering HELOC in my area, call at least 3 banks (big bank, small bank, credit union) to compare the rate as well as the terms/fees.

@Chris T. thank you! spoke with Michael, and yes, he did have a program for HELOC on investment properties.

@Brie Schmidt I just heard that Huntington bank can do HELOC for investment properties.

I know the many banks don't like HELOC for investment properties. Does anyone happen to know which lenders offer HELOC for investment properties in Chicago/Illinois? Thank you!

@Chinmay J. do you mind share the lender's info with me? I will PM you. 

@Terry Lao what kind of property you invest in Las Vegas, SFH or MFH? How's the cash flow aspect? Thanks!