All Forum Posts by: Jacob Howell

Hi there! Just rehabbed a single family home and it looks great. Love my tenant and she just signed the lease for $1000/mth.

Turns out there are some (5-6) spiders crawling near bathrooms and she is terrified. I was on vacation so she called a company to come spray for spiders. Should I offer to cover that or just let her pay for it?

Thanks,

Landlord Semi-rookie

@Harvey Yergin IV :)

I purchased a duplex for 80k and it’s worth about 140k, conventional loan, 25% down. We then got a HELOC on our residence for $68k. Really wanting to BRRRR soon and wondering if I should use my HELOC to pay off the property, do a cash back refi and use that for the next place? I’m in the game and am ok with moving more slowly at first while I get systems drilled down and learn how to be a good landlord, but want to be able to start moving on a few deals a year with cash. If my math is right, if I owe $60k, use HELOC to pay that off, rental appraises for $140k and I pull out 98k (70% of value), back back HELOC and have $38k plus 68k for fully stocked HELOC. Is that right? What am I missing?