All Forum Posts by: Steven Bommarito

Thank you, Sir. I wasn't aware. I've been told to use a HELOC by several sources but you know how that can go. Thanks

thanks Tom, I live in one unit and the other is rented. They are great tenants and do well paying on time. What I don't want to do is wait to pay down that mortgage before getting another property. What you said does make sense but I've never heard of a loan to value mortgage, is that common? I'm assuming that's not conventional. What bank will write that?

hey joe. We haven't set a time frame but hopefully I'll have something in place in the next 6 months. It was a handshake deal and I have to own up on it.

Hello,I'm Steve. I'm from St. Louis. I have a question. Wanting to get into real estate and have a unique opportunity. A friend of mine bought my two family for me in cash and I owe him. He bought it so I could compete with cash buyers and not spend more then I wanted using an fha loan. I'm planning on using a Heloc to pay him back as I have rehabilitated the property and have the second unit rented. My question is what route to take if I want another building as a rental or flip while having to pay on the heloc? If I don't have money saved who can help me get going? Thanks in advance