All Forum Posts by: Izzy Smith

Everyone,

This is helpful thank you for the feedback! @Tom S., the appraisal came back at asking price, so $0. As I distill everyone's useful advice it seems to me that: 1) HELOCS can be a useful tool in adding to the portfolio over time; 2) There is no need to rush to pay down the mortgage; 3) Refinancing into a conventional when it makes sense will improve my position in the long term. 

Again, everyone thanks for being kind enough to give your advice and encouragement!

-Iskar

John, thank you so much this is helpful feedback!

-Izzy

Hey everyone!

Newer investor here looking to get some advice. I recently purchased my first home using FHA. It feels great to get in the game but now I need to think about the bigger picture.

My property is a 2 - unit in the suburbs of Chicago that is currently renting under market. I plan on forcing appreciation by making upgrades to the property and paying down the mortgage. My question for everyone is, generally speaking, how have you used your home to fund your next deal? Can you share you your stories of using helocs / cashout refis / etc. to fund your next real estate deal (or stories about the pitfalls in using this strategy)? 

Thanks so much everyone!

-Izzy