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All Forum Posts by: Kiuny Perez

Kiuny Perez has started 3 posts and replied 14 times.

Post: Local Meet Ups in Tampa Bay

Kiuny PerezPosted
  • Tampa, FL
  • Posts 14
  • Votes 5

Hello everyone,

I wanted to ask if there was any Local Meet ups in the Tampa FL area. I searched and saw a couple older posts, but I was hoping for a more updated list.


Thank you!

Post: Using a Heloc on a Rental Property

Kiuny PerezPosted
  • Tampa, FL
  • Posts 14
  • Votes 5
Quote from @David Ramirez:

Hey Kiuny, 

Off-market properties are the way to go. You are not going to find a good investment property in the MLS right now. Try contacting local wholesalers and tell them to add you to their buyer's list. Whenever they send you an off-market property, run your numbers and offer based on that.

I agree with @Dawn Brenengen. Use your heloc short term and when you are done renovating the property, refinance and get better interest rates. 

Good Luck, 

David 


 Thank you for the input, I actually spoke to a Wholesaler a few minutes after making this post. Everything is starting to seem much more achievable.

Post: Using a Heloc on a Rental Property

Kiuny PerezPosted
  • Tampa, FL
  • Posts 14
  • Votes 5
Quote from @Dawn Brenengen:

I would not use it for long term financing, but if you want to use it to purchase, and then refinance the property into a conventional mortgage, I think it can be a good tool  

Thank you for the input!

Post: Using a Heloc on a Rental Property

Kiuny PerezPosted
  • Tampa, FL
  • Posts 14
  • Votes 5

Hello Everyone,

My name is Kiuny, I've been living in Florida for about a year now but am originally from New Jersey. I'm getting ready so I can start investing in the Tampa/St. Pete area hopefully before the year ends. I'm currently reading David Greene's book on the BRRRR method, but with the market being so hot I'm looking at a Plan B in case I can't get a house for 75% of ARV all in.

Would using a heloc with an 8% interest rate be smart in the long run to buy a rental assuming it cash flows. My worry would be the interest of the mortgage and the interest of the heloc.

Thank you!