All Forum Posts by: Redman Clay

Hey Nick, I'm an fix and hold investor here in Newnan, about 10mins from PTC. I can help you out or put you in touch with someone that can. Let me know what I can do for you?

I called every bank I could think of that has a branch in GA large and small and the response was all the same. "We do not have a loan product for a HELOC on investment properties". The only bank I did not call was Wells Fargo since a 60% LTV isn't too useful. Some banks were offering HELOCs on short term investment properties such as Air BnB rentals but not long term rental houses.

@Mark B.

Hey Mark I was wondering if you reached out to any banks about a HELOC?

I'm in the same situation here in GA. I'd rather do a HELOC instead of a cash out refi so I'm not paying interest on the money when its not in use, plus I would lose the great interest rate on my loan that's already in place. I'll probably reach out to a few banks this week and see who would be willing to do a HELOC

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $73,000
Cash invested: $105,000

Small house got a great deal due to termite damage

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Senoia.

Purchase price: $153,000
Cash invested: $25,000

Purchase from MLS

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $95,000
Cash invested: $16,000

3rd investment

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $126,000
Cash invested: $26,000

Small house bought as our second investment

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $95,000
Cash invested: $16,000

Single family home used the BRRR strategy with.

Investment Info:

Single-family residence buy & hold investment in Senoia.

Purchase price: $155,000

Single family home

Looking forward to event, thanks for putting together.