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All Forum Posts by: Steven S.

Steven S. has started 2 posts and replied 4 times.

Post: HELOC urgently needed!

Steven S.Posted
  • Indianapolis, IN
  • Posts 4
  • Votes 1

We are planning for a HELOC to support our purchase of a new home. We don't know where to start. I have bank of America and Penfed as options. They both are paying for closing costs.

Bank of America:

first 10 years principal and interest payments 

4 x fixed rate for withdrawals

they say could be done in 10 days!!

Penfed:

first 10 years interest only payments

3 x fixed rate for withdrawals 

a month for closing 

$99 annual fees

Which to go with and if any other reputable options?

Thanks in advance

Post: How to start

Steven S.Posted
  • Indianapolis, IN
  • Posts 4
  • Votes 1

Thank you, I will put finding an agent as a top priority and taking it a step at a time.

Any ideas to look for like qualifications, specific company in an agent or just search Zillow

Indianapolis, Indiana and surrounding is my coverage area for now

Thank you

Post: How to start

Steven S.Posted
  • Indianapolis, IN
  • Posts 4
  • Votes 1

Thank you, I initially contacted an agent then they requested a prequalify from a lender and I don't know if I will find the right property before it expires. Also I am hesitant that if I bought now I will keep spending monthly taxes and insurance which could take a while till it's sold. I also considered renting then I heard stories regarding tenants refuse to pay rent or that it could lead to legal situations. I am sure will use a property management if renting is an option

i don't know where to search for real estate investors club on Google or BiggerPockets

I know that part of never pay upfront before it's done. It happened to me a couple of times and I learned the lesson. If the company is truly legitimate, they will wait to invoice after all is said and done.

I am looking into Indianapolis and surrounding but I still don't know what kind of property to look for. Where should I find an agent? Zillow or no preference

Thank you 

Post: How to start

Steven S.Posted
  • Indianapolis, IN
  • Posts 4
  • Votes 1

Good morning all investors,

i am interested in real estate and I don't know where to start. I prefer buy and sell instead of renting for now but I don't know who I can hire for repairs and remodeling if needed, would it be a general contractor! I would to try with a small budget property either a condo or a house, what should I consider when searching.

Thank you