All Forum Posts by: Elvise Atem

Hey there, I love your predicament because I am currently facing a similar situation, but I will offer my thought and what is motivating my decision. hopefully this could be helpful.

we bought during the pandemic and locked in 2.25% rate. last thing I want to do is mess this rate. now with appreciation of almost $200,000 I am wondering what to do especially having created a new llc to focus on STR, flips,BRRRR and home maintenance.

in taking this decision I believe you should consider location, which I think from your writeup suggest it's a strong area in terms of appreciation. next question is what market are you looking to invest in STR? I think you equally partially answered that question, telling the difficulties you are facing with STR regulations.

this is my prescription and what I have decided to do .

consider HELOC your current property, use the money to

1- add some value to your current home if room provide ( not to exceed X $ amount) you can then rent out the extra created meat to help pay HELOC

2- Use the balance of HELOC to purchase another home in an appreciating market and if possible one that allows STR. use cash flow from new property still towards HELOC and just allow second home appreciate OR if you can fine a fixer upper to do BRRRR tat will even be better.

that is what I have resolved to to. you can get back to me at 301-256-1578 so we can continue to brainstorm.

little cent

Hey there, I love your predicament because I am currently facing a similar situation, but I will offer my thought and what is motivating my decision. hopefully this could be helpful.

we bought during the pandemic and locked in 2.25% rate. last thing I want to do is mess this rate. now with appreciation of almost $200,000 I am wondering what to do especially having created a new llc to focus on STR, flips,BRRRR and home maintenance.

in taking this decision I believe you should consider location, which I think from your writeup suggest it's a strong area in terms of appreciation. next question is what market are you looking to invest in STR? I think you equally partially answered that question, telling the difficulties you are facing with STR regulations.

this is my prescription and what I have decided to do .

consider HELOC your current property, use the money to

1- add some value to your current home if room provide ( not to exceed X $ amount) you can then rent out the extra created meat to help pay HELOC

2- Use the balance of HELOC to purchase another home in an appreciating market and if possible one that allows STR. use cash flow from new property still towards HELOC and just allow second home appreciate OR if you can fine a fixer upper to do BRRRR tat will even be better.

that is what I have resolved to to. you can get back to me at 301-256-1578 so we can continue to brainstorm.

little cent

Greetings everyone. This is Elvise A. a real estate agent with Exit Right Realty since 2022 in Maryland ,a business owner since 2017. After following bigger pocket potcast for quite some time, I finally took the decision to subscribe for the pro membership and want to make the most of my membership.

I am a freshman in the investment journey and even as an agent. still learning all the robes and will appreciate anyone willing to hold my hand through my first deal. More interested in holding for short-term rental for now, but open to flipping. I LOVE BRRRR!!

I have owned and managed a junked removal and moving business for over 7 years, and recently just added home improvement with a solid team and during these years I came to realized how much of potential my business has coming across new leads on off market motivated sellers. Anyone willing to hold my hand should know I could have much to offer. I need the right team and very open to long distance investing. Need a good lender who could fund/ finance my deals.

Thanks for your time on this long post