All Forum Posts by: Erik Joseph

@Andrew Aladjadjian the HELOC is on my townhome but was executed when it was my primary residence.

Thanks for the tips.

Great feedback all. 

@Clarence Johnson great piece of information and a great way to add value especially if looking to increase the value of a property and refinance.  I currently only use handymen and specialty workers so I haven't required a contractor that I will need to have for this route.

@Robert Chuang These 3 doors are all investments I have a separate primary residence so I am not sure how I can make my next investment a primary residence unless there is some loophole I am not aware of.  

@Steve Kim Currently I am in Gardena and South Los Angeles and both properties are flowing well but the equity is what has improved the most.  Both homes had hefty down payments and that is what allows the cash to flow.  1 is a duplex and the other is a townhome. 

@Andrew Aladjadjian I think you have a good point the money down will help with the monthly flow I just would prefer not to have so much cash tied up in the event I can move on another investment sooner rather than later.  But this is looking to be the most realistic route for me. 

So do any of you have advice on what is the smarter choice HELOC or Cash Out? How much can be pulled out on a HELOC vs. Cash Out? I have a HELOC on one of my properties with a variable rate and it's just eating away at more potential profit. Are their fixed HELOC's? Will another HELOC scare banks away when looking to close on the next investment property?

Hello All, 

I am a rookie and have 3 doors in Los Angeles that flow nicely and have built up quite a bit of equity. I'm looking to add a duplex or triplex in Los Angeles but running into high-interest rates and large down payment requirements. My previous properties were owner-occupied then rented out so very favorable loan terms hence the good flow. I plan on a cash-out refi on both properties for the down on the next purchase; does anyone have tips or resources to put as little down on the next purchase as well as keep my current loan terms as intact as possible? Specific Los Angeles experience would be super helpful.

Thanks All