All Forum Posts by: Syeed Shah

@Monica Ponton- It is very risky. I already bought investments through my savings. The other option is heloc. My properties will be aBle to pay off the equity in 5 years. I am just taking advantage of interest rate while properties become available that I feel is a good fit. Once a property becomes available. I would only recommend getting heloc if you are able to make monthly payments. If you own any investment properties, you can look at seeing if there is any banks or other company that will allow to get heloc on investment.

@Monica Ponton. They have 2 option. Revolving credit or lump sum. I took the lump sum option. The interest rate was somewhere around 5 percent. The turn around was quick. BOA was going to approve me for 25k only and I had more equity at my house.. i wad expecting 65k but spring eq approved me 95k. With the lump sum, I put it aside in my index fund. Vanguard total stock market. I am using some of the funds to buy a property and the rest will stay in index funds until another property comes around.

Elizabeth Southall. I recently have it with them. They can do up to 95 or 97% ltv. The process is pretty quick and usually takes 2 to 3 weeks. I checked out other places but this was far best for me. If you mention that you are using for home renovation vs investment. You will probably get a better deal. Just a food thought. I went through many to get heloc. I would not recommend big banks.

@Elizabeth Southall. Check out Spring Eq for heloc.

I have multiple investments already and trying to get another. I am trying to get heloc on primary.one company denied me since I already 4. I am wondering what to do.

@Alecia Loveless- what company is that??

Has anyone had any experience utilizing there primary residence as cross collateral for an investment property? Just trying to understand the pros and cons and what was the process like with the lending companies.

@Jessica Piff Fairway Mortgage and Movement Mortgage will do under 100k. I am in the process of buying properties under 75k.

@Karl McGarvey Thanks for the advice. I will look into it.

@Karl McGarvey do you know which lenders are able to do that.