All Forum Posts by: Logan Larochelle

Any luck on finding someone to do a heloc

I’m looking to do a heloc in the Orlando area or anything that is recommended.

I currently have 2 homes my primary that is appraised at $275,000 and I owe $196,000

My rental is worth around $175,000 and us paid off.

Looking to pull out a heloc on my property. Are there any recommendations in the Orlando area that investors use?

Or is there one online that is highly recommended?

Looking to buy another property in the Orlando fl area or surrounding areas.

Are there any good reputable wholesale companies that are recommended?

My mom received 100k in a life insurance check and I wanted to give her the best advice for what to do with it. She is 60 years old house is paid off, has no debt, no savings besides this money.

what would be some good advice or things she could do with the money. She wants to put it in a savings Or a cd account but I told her it would only earn around 1% it’s not really worth it.

And is this something the irs usually ask to show proof on?

What documentation would I need if the irs ask for proof? Or what info would I need for my taxes

I’m selling my primary residence (I’ve switch my primary residence Back and forth between my 2 Homes). After selling my home I should come out with about $80,000 I’m trying to avoid paying taxes what are some things I can do... I’m trying to keep the money on hand without having to roll the whole amount into another house I don’t know if I’m reading into it wrong but I’ve read that if you are married and you sell you’re home for less than $250,000 you don’t have to pay taxes? My home is currently worth around $130,000 I owe $38,000. Any advice is appreciated

Chris could you give a example of how much a 100,000 hard money loan would cost in total after 6 months.. with the points etc..

I may be currently in the market for a hard money loan since the house I am looking at is cash only. I have a few question, how would you go about finding are hard money lender in the Orlando,fl area And what are good terms to have by a HML? Let me see if I understand how hard money works correct me if I’m wrong or if I’m missing anything, let’s keep the numbers some.. On 100,000 loan I basically pay 1% interest ($1,000) the loan is for 6 months (until I refinance) so that would be $6000 then i refi and pay the loan in full, what else am I paying in a hard money loan? I know they usually cover around 75% if the appraised value, but what about repairs?