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All Forum Posts by: Samantha Harrison

Samantha Harrison has started 1 posts and replied 3 times.

Post: Newby Needing Advice!

Samantha HarrisonPosted
  • New to Real Estate
  • Muncie, IN
  • Posts 3
  • Votes 1
Quote from @Shaun Weekes:
Quote from @Samantha Harrison:

Hello! I have been looking at getting into real estate for the past year or so, and my husband and I are finally ready to jump in. Here is our situation: we downsized about 2.5 years ago to a house that we had planned to rent out, we have about 36k in a HELOC that we can use right now to either buy another house to move into or put into an investment property. We just had a baby back in October and are not keen on the idea of moving right now, plus our mortgage is crazy cheap so we don't really want to lose that right now either. So, we are looking at putting the HELOC into a long-term rental property. The homes we are looking at are between 75-120k and I would really like to stay in the lower range of that so we can generate a better monthly cashflow, however I am learning that most lenders will only go as low as 75k (which would actually be a 100k deal with 20% down). My advice needed- are there any other lending options to purchase a house that has an 80-90k asking price? I am having a hard time determining the best way to get a good deal done if I can only get a loan to cover a purchase price of 100k or more.


If you're looking to expand in IN I would for sure reach out to small, local banks that have no more than 10 locations. Make sure the bank has a commercial department and develop that relationship. I would also let the bank know that you're willing to open an account with them and deposit your monthly rents. This might help with the interest rate and build a stronger relationship.

Congrats on the baby!

I hope this helps and have a good one.


 I will be looking into this as well, thank you so much!

Post: Newby Needing Advice!

Samantha HarrisonPosted
  • New to Real Estate
  • Muncie, IN
  • Posts 3
  • Votes 1

Thank you so much for the insight! We have not looked into options with Chase yet, but we definitely will. I initially went looking for lenders through BiggerPockets, but that is where I am running into the investment minimum issues. We bank with Chase, so hearing they might have some options is really great to hear. Thank you again for the input! 

Post: Newby Needing Advice!

Samantha HarrisonPosted
  • New to Real Estate
  • Muncie, IN
  • Posts 3
  • Votes 1

Hello! I have been looking at getting into real estate for the past year or so, and my husband and I are finally ready to jump in. Here is our situation: we downsized about 2.5 years ago to a house that we had planned to rent out, we have about 36k in a HELOC that we can use right now to either buy another house to move into or put into an investment property. We just had a baby back in October and are not keen on the idea of moving right now, plus our mortgage is crazy cheap so we don't really want to lose that right now either. So, we are looking at putting the HELOC into a long-term rental property. The homes we are looking at are between 75-120k and I would really like to stay in the lower range of that so we can generate a better monthly cashflow, however I am learning that most lenders will only go as low as 75k (which would actually be a 100k deal with 20% down). My advice needed- are there any other lending options to purchase a house that has an 80-90k asking price? I am having a hard time determining the best way to get a good deal done if I can only get a loan to cover a purchase price of 100k or more.