All Forum Posts by: Jennifer Dawkins

Quote from @Seth Greenfield:

What would be the advantages to the HELOC over cash out refi? I get the HELOC on the primary residence where you can get 85-90% ltv but if you're limited to 70% ltv on an investment HELOC and it's going to be 3 points more interest than the primary aren't you better off finding a bank that will refi to 80% on an investment property and locking in the lower rate?

I personally would not refi right now as I have a 2.75% interest rate and refinancing would put me up to 7.25% plus thousands in closing costs so it's not cost effective, especially over a 30 year term. However, I am about to close on a HELOC and can borrow up to $100k. I have the option to pay interest only at around 8% for 10 years or I can lock it into a fixed rate at a lower %. Makes way more sense to me! 

What's the best way to approach someone to be a financial partner?

I would like to house hack or try the BRRRR method but don't have a lot of money. I also have a few personal obstacles to overcome before I can purchase anything.

I can offer my time to find a good deal and do all the managing. What else should or could I offer? 

Thank you! 

@Shelon Hutchinson I had no idea but have been hearing the word lately as I'm learning. Thank you for the explanation!

Thank you Dominique for the reply! 

@Dominique B. Wow! Congrats!! I've been studying wholesaling but I feel like I want to go more the route you're going. Did you just save all your cash for this first buy? Or did you say you took money from your current home?

Thank you!!