All Forum Posts by: Jordan Ray

Hey everyone!

Looking for recommendations on a company to obtain a HELOC with to use for rental property investing. Since it sounds like not all HELOCs are created equal what would you recommend for a HELOC to use for investing?

Thanks!

-Jordan

If anyone in the San Diego area has worked with a ADU company or has a good recommendation for one please send it my way!

Thanks!

-Jordan

Didn’t see a thread for midterm rentals so using the short term thread.

I have a portion of land on my Primary residence I will be putting a ADU on for mid term rentals to traveling nurses and college students.

My initial plan was to use a Heloc to finance this project but my concern is since it is on my primary residence I will not be able to refinance and pay the Heloc off like in a BRRRR deal and use the Heloc for further deals? Unless that is possible?

I also would like to avoid a cash out Refi since my current rate is 3.25.

What are your thoughts for a rookie investor?

If I use a Heloc to fund the ADU rental what are my options to acquire that money back so I can use my Heloc for further details?

Thanks!

First post here on the bigger pockets forums and new to real estate investing.

I live in San Diego California and with increasing home prices have acquired a large chunk of equity quickly.

On my property I have the potential to add an ADU that I would use for long or mid term renting. In my City we have one very close hospital with another even closer being built in the next year both with a lot of traveling nurses in addition we have a college for potential midterm student renters.

My other option would be to invest my money out of state into BRRRR deals with insight from another investor who invests in the area I'm looking into.

In either scenario I will be using a HELOC to finance and would appreciate the input of everyone paving the way for a rookie investor!