All Forum Posts by: Edward Adams

is it TRUE that you can't do HELOC on rental property in TEXAS?

Hi BP

I have a single family rental in Texas that I would like to get an HELOC on, is there any lender recommendation?

Thanks! 

I keep hearing if you buy property under your name put them under umbrella policy, what is an umbrella policy? 

buying my second rental property (BRRRR)

@Jonathan Styer these are great question thanks.

Hi BP

I have a investment property that is paid of and looking for HELOC, How should I compare lenders and what question should I ask lenders to get the best HELOC deal out there?

Thanks! 

@Jonathan Styer I do have a paid off investment property with HELOC, I will use the HELOC money to buy my next property and fix it and rent it and refinance. I will use delay financing for the refinancing step. it is not involve rehabbing or anything else. I just need to refinance in 3 month that is why I use Delay financing.

@Brent Coombs Thanks this was really helpful. so are you saying DF will not lend up to 70% of the property market value (value after I do rehab)?

I am nearly new to DELAYED FINANCING is there any CONS to this for BRRRR strategy?

my situation is I have one real property that is paid of and I have HELOC on it, I would like to purchase the second property with my HELOC and DELAYEd finance the second one in 3 month.

@Brent Coombs this is really interesting, I didn't know about the delay financing, it is too good to believe, is there any catch in Delay Financing? 

the reason that I pay of my HELOC is to not pay interest during the time I am looking for deal.