All Forum Posts by: Jeff Castro

@Ryan Rock I would not do lake havasu. I paid $800k for a higher end home there. Invested another $100k for turf, reno, furnitures, etc. The house has all the bells and whistles. Pool and all. I can’t even get it rented at $175 a night. You’ve been warned lol

4 Votes

@Nick Benjamin hi I’m interested. Can we discuss?

1 Vote

New York City, New York

Can't you finance the project via a traditional loan? I would use the heloc to pay off that interest and also that way you can dip into heloc for any build overrage, unexpected expense, etc..

0 Votes

Los Angeles County, California

I don't believe you can buy property in the phillippines without being a citizen.. the workaround I've heard people do is lease the land for 100 years and then build structure on top of it.

0 Votes

Can a bank call your heloc?

I’m worried if my home value decreases that they will call my heloc. Debating on taking it out and paying interest on it so that I secure the $ so I can invest it when the market drops a bit.

Has anyone heard of banks recalling heloc? Curious if that was the case back in 08..

0 Votes

@Shannon Smith why would u do this? We’re heading into recession. Whatever numbers you are told that the room or rooms have and will rent for are not going to be true moving forward. I would hold on to that $100k until economy trends better.

0 Votes

Chittenden County, Vermont

Quote from @Dante C.:

I'm not a big poster but just wanted to warn everybody about AVEN. Once you notarize, you will NEVER get hold of customer service again, especially by phone. I never took an initial draw upon signing docs and it took them over 30 days to allow me to login into my account (they promise access to funds 3-5 days after closing). Its been over 60 days since close and they have never allowed me to withdraw funds of any amount on that credit card they gave me. They are a joke of a lender and its not worth the hassle for them to be one of my lenders. Even if they allowed me to withdraw money tomorrow, I would refuse just so that I don't have to deal with these guys. I assume anybody perusing BP is even a little financial savvy, due to the fact you are doing your due diligence now with AVEN on this site. Not worth the headache, you have been warned. Don't do it. I just emailed support and requested to close/cancel the HELOC and get a Loan Closed Account letter of some type for my records and get them off my credit portfolio as to avoid problems later with any type of refi or the ability to use a different HELOC Lender on subject property.

Can you give us an update on this situation with Aven? Curious how the process of closing account with Aven is like.

1 Vote

What rates are you seeing for smaller multifamily?

What downpayments are the lenders asking?

Are you finding cash flowing deals? What states?

0 Votes

Don’t do it. I’ve seen over 10 loans called during “quality audit”. One is facing jail time.

0 Votes

All Forum Posts by: Jeff Castro

Jeff Castro has started 15 posts and replied 59 times.

Post: Where would you buy two STRs to have comfortable weather year round?

Post: Where would you buy two STRs to have comfortable weather year round?

Post: where to invest for first time rental unit invester?

Post: Best way to use HELOC with decent equity in homes

Post: International REI i.e. Japan, Malaysia, Philippines etc

Post: Can a bank call your heloc due?

Post: USING ALL OF OUR SAVINGS TO BUY STR

Post: Anyone heard of this Aven company? Thinking about their CC

Post: Multifamily still cash flowing today?

Post: FHA loan but not actually living there?