All Forum Posts by: Lawrence Cargnoni

Hi all,  

What is your feedback using a HELOC of a primary residence to purchase rental properties?

1. Use for a down payment

2. Purchase house outright

In both cases, the interest for the HELOC will be higher than the interest rate from a conventional or DSCR loan (at least in my case).

1. Use for a down payment

The rent needs to cover the HELOC payment and the loan payment

Do lenders allow this?

2. Purchase house outright

The rent needs to cover the HELOC payment

If the house is refinanced, then the rent would need to cover the new loan payment as well as HELOC payment for the remaining 20% equity

Thoughts, feedback, corrections, please?

Kind regards,

LarryC

Would like to know about the second situation.  What was the alleged breach?
Why could she not sue for performance IF she she had performed her side per contract within all required timeframes?

Hello Jeff, @Jeff Caravalho, apologies for reopening an old thread.  I find myself now where you were 4 years ago.

What decision did you make, please?  

What was your rationale?

Kind regards,

LarryC