All Forum Posts by: Jecarl Viray

Hi,

I’m an investor and an investor-friendly realtor here in the greater Los Angeles CA area.

I would love to connect with fellow investors and realtors.

Thanks,

Jecarl Viray

@Ben F. Thanks!

@Ben F. Thanks for this information. I'm interested to know what you got. What % LTV do they allow? I also have a few rentals in Florida that I can get a HELoC. What do they call it if not HELoC?

@Marc Rice I agree, it's a great list to have and it's comprehensive.

@Kerry Baird Hi Kerry, I changed phone and I just found out that bigger pockets app. is not supported any longer by my phone so I wasn't getting any notifications from my phone. That is a very comprehensive list. Thanks you for sharing this list. It would help a lot of investors who wants to open a Heloc on their investment property. I was going to go with PenFed as well but after seeing your list, I might inquire with the other banks with a better LTV. Thanks for your recommendations.

Hi,

Anyone know a bank/ lender that will allow HELoC on a rental property in Indianapolis IN? I know this is hard but I’m hoping someone has an experience in doing this.

Thanks in advance.

Jecarl

@Chase Yokoyama

For me, I started with buying out-of-state rental property. Then I added a multi family and a few more single family houses after that. I’m now going into house flipping here in Los Angeles CA.

Good luck with your endeavors!

@Scott Lyons

Have you found a realtor already? I know a realtor who is very knowledgeable of the Cincinnati area and investor friendly. He helped me buy my duplex a year ago.

@Katie Lepore I guess that's another way to do it. Both companies that I spoke with had suggested to create an LLC (member managed) on each out state where the property is located and have a holding company (WY manager managed) holding those 3 LLCs. Then my revocable trust will own the WY LLC. Looks like either way, I won't be able to eliminate paying the CA franchise fees. Can you pm me your contact information? Again thanks for this great information.

@Katie Lepore Thanks for your great advice. If I have a WY holding LLC, I only need to pay 1 CA franchise fee instead of 3 for the 3 LLCs, right?

My problem with creating a CA LLC is that I have to pay 3 franchise fee ($2,400) for the 3 out of state LLC plus it doesn't provide anonymity.