All Forum Posts by: Glenn P Kakugawa

That is certainly a small hurdle to overcome, but @Glenn P Kakugawa did the right thing by reaching out on here and seeing if local investors can point him in the right direction. Did you find a property Glenn?

I have not yet. My HELOC has taken much longer than expected.

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West Gulfport, Mississippi

Quote from @Justin Allen:

Quote from @Joel Case:

One single/multi family property in the area? That should be simple enough. What are your goals with the property?

Get with Joel Case... he's your guy to get things done!

Thanks! Will be vetting agents this week

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West Gulfport, Mississippi

Quote from @Joel Case:

One single/multi family property in the area? That should be simple enough. What are your goals with the property?

Buy and hold. Long-term rental. Cash flow $300+ per month.

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West Gulfport, Mississippi

**IN MISSISSIPPI

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West Gulfport, Mississippi

Aloha BP Fam!

We are looking to purchase a single-family or multi-family in Gulfport or surrounding areas. Looking to build a team. If anyone has any recommendations, please post.

Cheers!

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West Gulfport, Mississippi

Quote from @Steve Vaughan:

Quote from @Glenn P Kakugawa:

Quote from @Nate Sanow:

No, we still owe on our first mortgage, however the lender is asking if we would like a 1st or 2nd position heloc.

Definitely keep a low fixed first if you have it. What's the rate of your current mortgage?

Helocs are variable and have fine print that allows them to freeze or call. Fixed first is safer for you. Do not pay off your first with a heloc.

Current mortgage rate is 2.75%

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Thank you all! Great advice!

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Quote from @Nate Sanow:

Do you own something free and clear? That is the only way I can think of a HELOC being a first position. Otherwise, by default, a HELOC would always be 2nd position, to my knowledge.

No, we still owe on our first mortgage, however the lender is asking if we would like a 1st or 2nd position heloc. I know there are advantages to both depending on the situation (ie. using the heloc to pay off the mortgage), however that is not what we are doing at this point in time. Just wondering if there are other advantages to putting the heloc in first position.

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We are trying to decide whether to use 1st or 2nd position HELOC to fund our investment property down payment. Any advice is appreciated.

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Quote from @Kenny Smith:

@Glenn P Kakugawa

Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?

1. Subscribe to the BiggerPockets Money and Rookie Podcasts

2. Attend the FREE WEBINARS

3. Attend a Meetup in your area/virtual meet ups

4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

5. Peruse the forums! Ask questions! Answer questions! If you are consistent with learning real estate over the next 4-6 months, you’ll be ready to purchase your first (or next) property in NO TIME!

Good Luck,

Kenny

Thanks Kenny!! Great advice!!

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All Forum Posts by: Glenn P Kakugawa

Glenn P Kakugawa has started 3 posts and replied 11 times.

Post: Looking to build a team is Mississippi

Post: Looking to build a team is Mississippi

Post: Looking to build a team is Mississippi

Post: Looking to build a team is Mississippi

Post: Looking to build a team is Mississippi

Post: 1st vs 2nd position HELOC advice

Post: 1st vs 2nd position HELOC advice

Post: 1st vs 2nd position HELOC advice

Post: 1st vs 2nd position HELOC advice

Post: Aloha from Maui! Let’s GO!!!