All Forum Posts by: Chris Teti

Since it is your sisters primary residence, you should able to, but my guess is both of you will have to be part of the HELOC process (and both your credit). At the very least she would have to sign off that she understands the financial commitment and lien put on the house since it is 50% in her name. Might be easier just to get lines of credit not tied to a property though.

99.9% of lenders are going to require you to put money down, but there are strategies that allow you to leverage unsecured lines of credit (business and personal) so you don't have to put down any of your own $$. 

I know you said credit is not an option, but in most cases there are ways that you can get access to lines of credit to fully or partially do your investment.

In my experience there are ways to access business lines of credit and use them in conjunction with a commercial construction loan or hard money lender. I think it all depends on the lender.

@Pedro Bartolomei

Hey Pedro, I think combining unsecured lines of credit with your hard money / construction loan is the best way to go as it allows you to invest without using any of your own $$ and i Like someone else said, the numbers have to work and you should have an exit strategy like doing a flip or brrrr'ing it.

@Nicole Cutlip

Congrats on the 3 properties! That's exciting.

All good. When you are ready, just reach out.

Good luck!

@Steve Montalvo

Got it. Thanks for sharing. If you are interested, there are still ways to get you capital even with bad credit. If you want to talk, message me and we'll setup a time to talk. Good luck man.

@Steve Montalvo

Hi Steve, if you don't mind me asking, why are you trying to do it without using your credit?

Hey Steve, I"m not sure about the HML option, but what about a HELOC? That would allow you to keep your existing mortgage on your first property but access the equity in it as a revolving line of credit. And it would be at better rates than the 10-15% you are talking about (I just got one here in NJ for like 5%). Another alternative is what we do, which is help you get setup with business lines of credit so it's not tied to a property and does not show up on your personal credit report. This way if you ever sell your first property, you don't lose all your working capital.

Hi Nicole, you might be able to keep the HELOC, I'm not sure about this. But either way, I can help you get access to unsecured lines of credit that won't be tied to your property (so you don't run into this scenario again).