All Forum Posts by: Elisa Duka

 I just called that restaurant since tonight would be the first Thursday, they said no one's made a reservation for a group with that name.

@Jim Adrian this would be a variable rate as it moves with the prime rate. Most banks weren't willing to give me a HELOC on an investment property, and the ones that did offered me even higher rates, so I felt pretty good about this one.

@Freddie Williams Apparently so! However rates on investments properties are higher than HELOCs on primary homes, which makes sense but still hurts! 

Hello BP friends! 

I'd really appreciate opinions and advice on a timely matter that I'm currently facing. I own a condo free and clear and am looking to do a HELOC for $35k on it for a down payment on another property.

Question is: The HELOC for $35k has a 1.99% for the first 12 months then 5.50% (Yikes!). It's a 15 year HELOC and the draw period is 5 years, which are interest only. I do save a lot considering there are no closing costs or pre-payment penalties or inactivity fees.

What do you guys think? 

Thanks @Andrew Johnson, that sounds like the best option for right now. 

Hello!

I own a property in full (no mortgage or loan) and the equity that I can pull out from it would only cover about 60%-80% of another investment property that I'm looking to buy... my question is should I get a mortgage or loan for the remainder of the new property or would it be better to just mortgage out most of the new property and keep the equity for expenses. 

Any thoughts?

Thanks,

Elisa D.

@Jeff Copeland Hey Jeff! I'm studying at USF-St. Pete and I have a good feeling that this is a great area to invest! I have noticed many tenant in this area are either college students or young professionals. I would love to learn from you!

Hello everyone!

My name is Elisa Duka and I am actually a 20 year old landlord (21 in 3 months!) I live in the St. Petersburg, FL area and my first piece of property, which was given to me by my parents with full equity ownership, is an apartment unit currently being rented out to a tenant. However, I am eager to pull out equity and use it to pay for a piece of new property while I mortgage the rest of the cost. I currently work for an international bank and I'm also finishing up my Bachelor's in Global Business. I greatly enjoy networking with many of my customers and in fact, I was introduced to BiggerPockets by one of my real estate investing customers !! I hope I get to network with many of you and gain some new insight on real estate investing!