All Forum Posts by: Tammy Wise

Larry T. And Bill Gulley thanks for the feedback! I will hit up a few banks and see what they say. Thanks again

Hey there! Cross post as I didn't get any traction in the Creative Financing forum. I recently renovated a house (where I am trustee) that is free and clear here in CA. We plan to rent it out soon. Is it realistic to think that I can get a heloc on it to purchase a rental and put in the trust? Would I have to wait a certain amount of time to prove positive income on this house's cash flow? Thanks for advice in advance!

Hey there! I recently renovated a house (where I am trustee) that is free and clear here in CA. We plan to rent it out soon. Is it realistic to think that I can get a heloc on it to purchase a rental and put in the trust? Would I have to wait a certain amount of time to prove positive income on this house's cash flow? Thanks for advice in advance!

Hey there! I just wanted to introduce myself. I have been taking the last couple weeks to listen to all the great podcasts and posts. I am new to REI and basically a happenstance landlord. I am trustee to our Family trust (my young adult children beneficiaries due to our personal finances at time of father's death) in which there are 2 houses included. One small, very run down ( w/ water/basement issues), little house in St Joseph Mo and my late parent's house in CA. The MO house was renting when I became Trustee but has since vacated and we could not get new renters. I will def need to pick your all's brains on this one as we have put it on the market as is (even reduced it) with no serious bites...My dad left it with a decent HELOC that I additionally need to take care of on this problem child (no cash to update house at this time unfortunately). We are almost ready to start renting the CA house after a total gut remodel so I will be landlording again. I definately have the REI bug and already trying to think of how to grow our empire (LOL). My husband's and my personal finances don't allow for us to do anything for about a year so I want to focus on the Trust assets for now. If anyone has any advice, tips, or forewarings for this true newbie, I am open ears :-). I am hoping you all will take me under your wings as I get more confident in all this. I have bought the Flipping Houses/Rehab books which are awesome starts for me.

I know this post is a few months old but definitely interested!