All Forum Posts by: Julianne Paragas

Hi, I am looking for a professional/reputable management company in Excelsior Springs, MO. If anyone here has any recommendations I would greatly appreciate it. Thank you.

@Shiloh Lundahl

Hi, thank you for your reply. Do you have any tips on how to pay back the HELOC? I'm looking for an investment property that cash flows not only to cover the mortgage and expenses but also to pay the HELOC. I'm not sure how realistic this is? I will probably have to use some of my money to pay off the HELOC since I would want to pay it off ASAP. I'm thinking once I have enough equity in the investment property I can do a cash out refi to pay a part of the HELOC as well.
-Julianne

@Onan Dumas

I'm happy to hear that you're happy with your HELOC. To follow up on my question. Let's say I get a HELOC to use as a down payment on an investment property and then wait at least 6 months (or when the investment property has enough equity)so that I can do a cash out refi and use that money to pay back the HELOC. Is that correct? Also do you try to buy a property where you make sure it cash flows to not only cover the mortgage and expenses from the rental but also to cover the HELOC payments? Any tips on that? Do you use any of your own money to pay back the HELOC?
-Julianne 

Hi everyone, I am new to this forum. I am ready to start my real estate investment journey and need your help and expertise. So my question is what should I do with the equity in my primary home to invest in multiple properties. I live in LA county California. I bought my primary home for 1.225 mil with a 15 year mortgage at 3% interest. I think my home might be worth 1.4-1.5 mil now.  I have a balance of $260K left on the mortgage with 6 years left. What makes sense for me? A Heloc, home equity loan, cash out refi, mortgage loan with recast? Any other options that I haven't listed? I also wanted my investment properties to be a 15 year mortgage just in case that makes any difference on what I should do. I want to buy and hold properties for cash flow, long term and short term rentals. Thank you in advance for your help.