All Forum Posts by: Jovon English

Good info guys... so Greg, you only do M2M leases?  I thought it would be beneficial to lock them in long term leases.

I opened up Google maps and started clicking on credit unions in SoCal. I would go to their sites and read about their HELOC products. I found Unify CU offering 3.5%. I then called up Chase to see if they could match but they couldn't.

You could go to a local credit union and see about getting a HELOC to use as down payment money for new investment properties. I'm at that stage now and plan to pay the HELOC off quickly and then start over again.

Hi Grant, I'm in the same boat.  My realtor said to get them on a lease ASAP and I should raise their rent.  It's unlikely they would move right away but it's possible.  A friend of mine said raise one side at a time months apart to lower your risk incase one leaves.  I could probably get away with that because one tenant has 4 previous eviction notices from 5 years ago.  I could say that I had to raise rent on him because he his higher risk.  I'm not sure how I'm going to handle it yet but it is good to look at all options.

I'm going this route myself with a 100k HELOC at 3.5% rate and APR with a 15 year draw at a credit union. I will have some closing costs but there is no maintenance fee. I'm in Southern California so I guess the rates are a little higher even though I have excellent credit.

I have explored a cash out refinance and a home equity loan but the best option for me was a HELOC.