All Forum Posts by: Carlos Tavares

@Tyler Moore

There’s always risks, but look at it this way what’s the difference between 50k cash(saved) vs 50k cash from heloc? It’s still 50k at risk! As long as you buy a deal and if cash flows correctly it makes sense. I used a heloc to purchase a rental unit last month I use the cash flow to pay back to heloc(plus my own income) once it is high enough I’ll take it again and buy another hopefully 2-4 years 😕 in my market I usually need @70k-100k for down payment.

Greetings

I’m not sure how much of a discount on insurance you’ll get but when I bought my insurance they asked if there was a security system so I would guess you would get something but I’m not sure

The allure flooring does move over time and form tiny gaps , 

The life proof solid core is what I have now @$3 sq I love it bit pricey but beautiful 

Good day 

Yes you can but as your new to investing I wouldn’t and the listing agent won’t represent you fairly as they would their primary client “the seller” I believe even some experienced buyers still use agents as for myself I’ll continue to use one for all my purchases 

Greetings and welcome 

I have done the same this year I was able to access 80% of equity and use it as down payment and purchased a 3-unit. 

With your equity you should be able to access @60k in equity 

There are other posts if you search the forums under “heloc”

Personally I would shy away since I would now be paying $400+/mo more on current mortgage and I would then have to rely on a even better deal to cover old mortgage and new deal 

Greetings 

I think buying rental property now will not hinder you later if anything it’ll help you .  In my personal experience buying a single family for my family made it harder to purchase rental as the down payment requirements are vastly different 3.5% single vs 25% multi . 

Cash out refinance or Heloc 

Simple way is to just pay extra every month when you can. 

The hoa/ condo fee is probably $250 mo not a year? If so then the deal won’t make sense like others already said there’s no maintenance or pm #s