All Forum Posts by: Christine Krizenesky

@Frank Jiang

Okay, thankyou, that helps a lot. That makes way more sense, just using the money as a capital contribution and be done with it. Then pay off the HELOC, and the rest we can reinvest into the next project/LLC or pay down a mortgage.

2 Part question-

This is hypothetical- wondering if there are any implications to using a HELOC as a hard money lender for our LLC to purchase a property that would be a flip, then once the money is made the LLC would pay "us" the hard money lenders back with of course the interest. Then that way we are using ourselves as the bank?

Would this money have to be used on a 1031 Exchange then ? Or can we pay down the other mortgage on our other property (a duplex) with that money since it is from the LLC account?

@Matthew John

Congratulations Matthew! That's quite impressive and very inspiring! I'm just getting started as well. This truly motivates me even more to tackle a BRRR/flip. Keep up the good work.

~Christine

Thank you everyone! This was very helpful. I’ll be looking into all of this to some varying degree. Appreciate the help! 

@Josh Oaten

We are looking at both types right now.

@Oleg Shalumov

Thank you! I will definitely try that!

@Oleg Shalumov

I asked a REA recently and he didn’t know how to do that. Is there public data that could be searched somehow?

When I am going about looking for new rentals to purchase and I want to get a feel for the vacancy rates in a particular area, how do I go about finding those?

@Sam Shueh

Thank you, I am starting to see that’s more the consensus then to go it alone and to try to save Realtor fees.

~Very Helpful

@John Underwood

Super! That makes sense as well. Thank you as well for the helpful info.