All Forum Posts by: Esther Li

@Manolo D., thank you! Nice to know you!

@Lane Kawaoka,  I understand, I have similar thoughts.. I still work on Indy just because I have a realtor and a contractor who has been good team to helping me on single family purchases. But definitely scale is another issue. 

@Logan Allec, Thank you Logan, it is nice to know you as well! Cheers for CA investors!

@Jo-Ann, Hi Jo-Ann!~ How's going?  Thank you so much referred me the lawyer last time, I had a consultation with the lawyer and was very informative. 

I signed up BP on January 2018, didn't know there were new member introduction forum. Hello everyone! I am a newbie investor from CA, currently have one flip project on Indy and one flip in La Verne city here in CA. I also am working on single family buy/hold purchases in Indy currently.

Setting my goal for apartment purchase this year as well, either by self or syndication and partnership. I am new to syndication so I am learning communication skills to other investors. 

I have been absorbing so much through BP podcast and forums, I hope to be a contributor to the community one day as a experienced investor. Would like to connect to as many members here on BP!

Hi BP,

Can anyone recommend a good real estate attorney? Currently I am working on out of state investment on single family properties for buy and hold purpose. Thank you!

Hi BP,

Can anyone recommend a good real estate attorney? Currently I am working on out of state investment on single family properties for buy and hold purpose. Thank you!

Thank you Greg for your feedback. Initially I thought I can get somewhere 50k-70k HELOC then I can use a portion to invest and use other portion to pay off mortgage fast. Since I have big chunk of mortgage left (420K) I thought it would be nice to pay off this fast so I can get conventional loan again when I needed and my rental income will be 100%.

From couple of banks I talked, only US bank offered 17K heloc and their HELOC is like a credit card they said, not like a checking account that I can do direct deposit as other people talking on the YouTube, so I am very confused. Is there different type HELOC?

Yes, since 17K is only amount I can borrow I will rather use for investment along with some of my savings. 

Hi, so I have been learning from post like "how to pay off the mortgage fast with HELOC account", basically it explains that get a HELOC account acting like a checking account can do direct deposit of paystubs and other source of income, so that will save on the interest paying by end of month.

So that how I thought all the HELOCs are. Now currently I talked to multiple lenders, including CityBank, US Bank and others, some of them said their HELOC is amortized HELOC to begin with, and most of them said "No, you cannot direct deposit anything into the HELOC. It is like a credit card, a debt that you can draw funds from as needed and pay back.", direct quote from the lender.

I am confused with those type HELOC, HELOC terms can be different bank to bank?