All Forum Posts by: Greg Lyons

Anyone have experience or insight into "All in One 1st Lien HELOC?"

Was pitched to me today as a means of chopping my primary home loan payoff time from 360 months down to about 120, without increasing my monthly payments.

Anyone with familiarity on the pros/ cons, I'd welcome perspective. I like the idea of paying off the mortgage 20 years faster and the flexibility of the HELOC that I might use to fund other rental investments.

@Bjorn Ahlblad thanks, yes good reminder that a little premium (for the right deal) may be merited provided the right upside.

 Thanks Arn, very helpful. I like the aspect of economies from one larger property. You hit a point I've been deliberating on as well, the question of buying for equity vs cash flow and the ability to convert / restructure to cash flow heavier when/if necessary, having grown equity position.  I'm attracted to the idea of switching full time to real estate investment in ~5 yrs or so and imagined cash flowing as much as possible as necessary to support my living costs, but suppose it'd be feasible to restructure in 3-5 years accordingly if I saw that the numbers would make sense. 

 Thanks, had not realized or thought of that, but makes sense. 

Thanks for the comments and feedback, thus far. It's greatly appreciated.  I'm open to syndication/LP opportunities as an alternative, for truer passive income potential. The $400-600k is down payment range. 

@Greg Lyons I should add I've renovated two homes, and self managed one SFR for 4 years and would be relying on building a core team / property management in any out of state investment.

Will be seeking to invest between 400-600k into multifamily, aiming for maximal cash on cash return. Initially thought duplexes or triplexes in B class properties in Cleveland suburbs (out of state, have family connections) but am debating if 5-20 unit commercial multifamily would be faster route to growing passive income (i know it won't be truly passive, lot of work to get it running well, management in place, etc). Appreciate any guidance from more experienced investors. My goal is to ease out of W-2 in the next 5 years if possible through out of state investing from new home base of Idaho.