All Forum Posts by: Mike Finn

Hello everyone! I am currently looking to install a wooden picket fence at one of my properties. Gotten a few bids, but would like more. Does anyone out there have any affordable fencing people/companies that they would like to use? Property is located in Leawood KS. 

Hello, I am trying to leverage the equity I have in two of my rental properties. Does anyone know of local institutions that offer HLOCs on Investment properties?

@Shantanu R. Just got off the phone with them. They don't operate in Missouri, unfortunately, but they did give me a few institutions to contact!

@Anthony King Thanks man!

I've thought about selling, but I currently have a tenant in both properties. Have you dealt with that situation in the past?

@Anthony King This breakout is a few months old, so I have a bit more. See below:

Property 1 - $188k 75% of that would be about $100k (75% would be based on cashout refi)

Property 2 - $108k 75% would be about $80k (75% would be based on cashout refi)

@Brad Jacobson Got it, thank you! So should I google for local credit unions and go down that path?

@Joshuam R. They are under my personal! Thank you for your reply. What kind of institution are you getting your HELOCs through? Trying to figure out how best to narrow down my search.

Hey everyone, question for the group. I currently have two rental properties I want to figure out how to leverage so I can start growing my real estate profile. I do not want to leverage a HELOC on my primary residence for reasons I don't want to get into here.

What is the best way to leverage the equity that I have in my rentals? I was going down the path of a cash out refi, but every lender I spoke to said it was a bad idea because the rates are too high. It would essentially kill my positive cashflow.

I was told I could get a HELOC on my rental property. I spoke to several local lenders, but they said no one would give me a standard HELOC on my rentals, but that I could get a LOC (Line of Credit/Commercial Line of Credit) that is essentially the same but with significantly higher rates. Am I understanding that right? Is there something special I am missing?

I know questions like this get asked a lot, but I'm feeling pretty defeated right now. 

@Mike Reynolds Hey Mike, I currently live in Missouri so we have the stereotypical seasons (ungodly hot in summer, crazy cold in winter). Spray seems to be the best option but is also really expensive?

@Justin Konz Thank you! After all these responses I have gone ahead and scheduled a meeting with a lender. I think my best choice is to go ahead and refinance at this time. Really appreciate your guidance!