All Forum Posts by: Julie Walker

The compressor on an old (freon) AC unit is locked up and the coils are rusted. Thinking about replacing with used unit. Per Manual J calculator need approx 2 ton. The closet unit is ok. Wiring is good. The house is in high heat/humidity area near Galveston, TX. Any advice?

Thanks, Christopher.   

I am in the process of closing my first single family deal. The property has tenants in place. I intend to honor their current lease, of course, but do I need to provide an new lease as between us or is there a way to amend the old lease to reflect the new ownership.

Lovely! I do have 1 question. You said that it took 6 months. Was that just working on it part time (I know you did a lot yourselves) and do you think that your holding expenses cut into your profit much?

Thanks to you both for your insightful replies. My thought was that I would use a portion of my heloc (20-30K) and either get conventional, private, or hard money for the rest. BRRR it with a refi that would pay off the heloc. But, if I finance with a conventional loan, not sure it would make sense to refi right away and then would have to carry the heloc too, risking my primary residence. So maybe using private or hard money would be best for the first deal.

Are there any rules against using a HELOC as a downpayment for a conventional, Non FHA loan? Or would it be better to use the HELOC as money in the game for a private lender or hard money lender and then refi with a traditional loan? This would be the first property. Thanks.

@David Cruice great advice. Thanks so much!

@Brian Garrett thanks!

Hello. I just put a contract on my first property and would like to get some advice on the title process. I will be paying cash. I know that a finance company makes sure the title is clear. How is the best way to go about doing that myself?

Jacob, what do you love to do?  If you think you will really love real estate, then maybe getting your license is the perfect place to start.