All Forum Posts by: Brian Knapp

Stephen Shelton I looked into this last week and found some info about HELOCs for investment properties on TD Bank’s website. I will be calling them this week for more info.

Prashant, What type of property is it? For insurance call John Watson at 954612-6379 or email him at John@WatsonInsuranceFlorida. Com

Originally posted by @Joe Villeneuve:

The 1st rule of the 2 Golden Rules of REI is to never spend your own cash.  Use it many times over, but never spend it.  Paying $210k for $30k isn't even spending it...it's losing it.  Investing it elsewhere, then getting it back and reinvesting it over and over is using it.

 Is no one going to ask what the 2nd Golden Rule is? :)

Liability would definitely be an issue, but personally I would be more worried about the increased expense for pool maintenance. Pumps, plumbing, filters, chemicals, etc. Headache.

The amount of economic growth in Florida has been tremendous in recent years. Job market is strong, businesses are expanding, no state income tax, retirees are continuing to make Florida their permanent residence, etc. No sign of slowing down.

Caleb Heimsoth thanks. Agree, 30-40% offers a good cushion. For some time now I have been playing around with the idea of tapping into the equity of my rental and primary residence to put it to better use elsewhere.

Charlie DiLisio thanks for the reply. Agree, 20% offers a good cushion without having to worry about PMI.

Realizing each investor is in a different stage in life and may have significantly different goals at that stage, I’d like to hear some thoughts on how much equity you like to keep in your property.

Economics are strong where I am in Palm Beach County, Florida. I am not too concerned with a major market correction.

Personally I feel keeping enough to protect ones self from going underwater during a market correction makes sense, but I also see how having too much dead equity can be costly if you are looking to build your portfolio. 

I lived in Pensacola for 5 years. Loved it. Lower Alabama, as we used to say.

Jeremy VanDelinder if you don’t mind my asking, where is your Florida property?