All Forum Posts by: Drew Smith

Thanks for the advice Greg. This is why I wanted to jump into this forum is because of networking info like lifestyles unlimited. I will be sure to check them out!

Hey James thanks for your time and question. I thought about doing a cash out refinance and I am still considering it. The reason I am gravitating towards a Heloc is closing costs are less up front and its reusability. I can pay it down and reuse within the 10 year period of only paying interest on it. With a co-refi once I spend it then I will have to pay it down and go through the hoops of refinance again to get more money. My mindset is to use my cashflow to pay it down and accelerate my buying power. What are your thoughts?

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Hi I live in the DFW area and I am looking to start buying rental properties. I have about 100,000 in equity in my house that would like to use in the form of a HELOC to buy rental properties with. I want to use my cash flow to pay down the HELOC and keep using it until I achieve a Portfolio large enough to produce a healthy buying power to sustain growth. What do you think of this strategy? Any recommendations?

Can I get a conventional loan for investing in rental property with only putting 5% down? I have seen that I can buy a second home like that. A lot of places I have read is that mortgages for investment properties require 20-25% down.

I am also trying to decide if I should invest in DFW or go out of state with a turnkey type of platform (roofstock or homeunion). Any thoughts?

Thanks,

Drew

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I am also trying to decide if I should invest in DFW or go out of state with a turnkey type of platform (roofstock or homeunion). Any thoughts?

Thanks,

Drew

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All Forum Posts by: Drew Smith

Drew Smith has started 2 posts and replied 3 times.

Post: How should I spend 100,000

Post: How should I spend 100,000

Post: New Investor Question