All Forum Posts by: Ryan Morrissey

Hey all - I am currently pursuing a 100% LTV HELOC on my primary home that was/is a live-in flip that we decided to stay in for an extra 1-2 years. I plan to use the HELOC to essentially act as my own hard money lender to pursue investments in income properties using the BRRRR method. I currently live in a strong, stable market just outside Boston, MA and the ARV on my home was recently appraised at $170K over our current note. So a couple of questions here: 1.) what are your thoughts about the strategy to leverage equity in primary residence to jumpstart REI plans? There are obvious pros and cons here, but overall thoughts? 2.) can anyone recommend a lender who will do a 100% LTV HELOC with relatively competitive rates and terms and who does business in the New England area? The best I've seen so far is HFCU who is currently offering 5.25% (variable rate) for a 30 yr term, first 10 years interest only required.

Also, Brent Maxwell - curious in learning more about the market it in Detroit, especially MFH. Being new, I'm more comfortable investing locally, but in general I find Detroit an interesting REI market. I'll send PM as well, but in general, how is MFH in Detroit?

Edward Noseworthy : I'm looking to tap into the MFH space and have also been considering the Worcester market. I'm in early planning stages now, but since I'm new to MFH and the Worcester market, I would love to connect and chat a bit. Also I downloaded a copy of the SNACap report, looking forward to reading this weekend. Just by reading the foreword I could tell it was going in the right direction....I'm currently at that stage where I'm trying to hone in on a market(s) and deciding what data/sources/metrics to rely on is a struggle. Need to tap into the knowledge shared in other threads on this topic. All - please feel free to drop some knowledge on how YOU hone in on your market areas for REI...what metrics/data sources do rely on? Are there better metrics to consider for MFH vs. SFH investments?