All Forum Posts by: Michael G.

Hello BP!

I'm looking for information on a loan on a building lot in Connecticut. Amount is $100k. I want to purchase the lot and build in 12 - 18 months.  Thanks!

Thank you Brian!

Hello,

I have a single family rental located in Connecticut that I would like to refinance to extract equity. The current mortgage is $153k and the current value by a local trusted realtor is $270k +/-.  I plan to invest the equity into another rental property.  I have a few questions:

1. Is it possible to have a HELOC type loan on a rental property? If yes, who offers?

2. What is the standard loan to value percentage on a rental?

3. From the user community: is their a lender that you would HIGHLY recommend?

4. What is the best type of loan for extracting equity given my scenario?

Thank you all!

Mary Poola, CRS, GRI, SRES

Broker/Co-Owner

Heritage Properties SPC

157 W. Main St., Niantic, CT 06357

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I used Mary for my rental. She lives and works exclusively in New London County. Mary has been a realtor forever and an active investor.  I highly recommend Mary! 

I live in Groton. Let me know if you have any questions.

Hello Brad, I am self-managing. I went through Mary Poola (Highly recommended) of Heritage Properties in Niantic find the tenants. All good so far.  Michael G

Welcome aboard! Best of luck.

retipster.club vs landacademy: Looking at both programs. Looking for feedback from fellow BP'ers who have gone through their programs. Overall experience? Would you recommend? Comments. Thanks!

Hello, Where's the deal in CT? Thanks