All Forum Posts by: Edward Adams

@Tina Tsysh that make sense, I think the only way I would invest in auction would be the price be so good that no matter condition the house is in, i still come out positive. 

@Jaron Walling I see your point, but from the positive side you will eliminate anyone without CASH and even anyone who get hard money loan. (since I believe hard money lender won't lend on auction). it is risky but sometime you see some deals so tempting. :) 

@Wale Lawal Thanks for reply, any suggestion for rockstar lender? I believe since I refinance to pay off my HELOC then it will consider cashing out. I am hoping I can find lender to have 3 month seasoning. Thanks!

I am reading / watching to learn more about BRRRR, is there a reason no one talking about buying property at AUCTION?

@David Kelly Here is the deal I have 1 paid off investment property, I am planning to get HELOC on that and buy the second property all CASH (using the HELOC) then I would like to Rehab it and put a tenant in it and refinance the second property for fix 30Year can get my HELOC money all out. are you saying I don't need to wait 6 month before I can finance the second property?

@Evan Polaski Thanks for your reply, my first step will be looking for best lender to get the HELOC.

one other issue I have is the seasoning, after my purchase how can I avoid 6month seasoning (in Houston TX) before I can refinance?  

Hi BP

I have a payoff rental property that worth $230K I would like to start BRRR.

I have 2 choices 

1. get a HELOC on my rental property and start the BRRR

2.get CASH OUT refi on my rental and start the BRRRR

I believe both have pros and cons, like if I get HELOC I don't pay interest while I am looking for deal, or if I get CASH OUT refi I don't need to be worry about interest rate going up and down.

Which one you think is better in my situation?

Thanks!  

 Yes

I am looking for Recommendation on HELOC on investment property in Texas