All Forum Posts by: Greg Smith

Hi everyone, 

I'm in need of a HELOC and could use some advice.

Do you typically find the best HELOC options at small local banks or big national banks?

Is it important to have your HELOC at the same institution you plan to finance investment property with even if they have less competitive options?

Thanks in advance. 

Hi Everyone,

How's the BP rent estimator tool compared to rentometer? 

Jonathan,

What I mean is that I can't afford to purchase the property with cash, re-hab it, and then refinance. That's not doable by me with cash.

I can afford the 20-25% down if I were to do a conventional mortgage, yes. Based on David Greene's book though, he advised against doing this (financing up front prior to rehab) because you'd leave so much in the property when you go to re-finance.

Hi, everyone. I'm looking to purchase my first rental property in a location that is a can't miss. The problem is that the price of the homes most in need of repair is beyond what I can afford to pay with cash. I'm guessing lots of you have found yourselves in markets that aren't necessarily BRRRR friendly anymore due to increased home values.

I'd really appreciate any advice about how to best set myself up on my initial purchase using a more traditional financing approach to be able to leverage that property going forward. 

I'd obviously like to own multiple homes, so my biggest fear is getting all of my money tied up in this property and having to wait 3-5 years to do the next deal.

How have you guys navigated this? Any advice?

Thanks in advance.

Hi, Newbie to RE Investing here...

How advisable is it to utilize a HELOC from your primary residence to fund, at least temporarily, a BRRRR property?

The only mention of a HELOC in David Green's book was one related to an existing rental property.

Is it a bad idea to utilized primary residence equity to land your first rental property even if it's only intended to quickly secure the property and fund the rehab?

I'm in Charleston, SC. Deals are hard to come by right now, but I'm biding my time, trying to set myself up to be able to secure my first property when the opportunity arises.

Thanks in advance for any help.