All Forum Posts by: Tanner Lewis

I would only do a HELOC if you have a mortgage and are locked in at a low rate from the COVID era; if a property is free and clear, I would just do a cash-out refinance. You'll be able to get a lower rate on the debt and there is no balloon payment. Since it is owner-occupied at the moment, I would go conventional and then use that plus hard money/DSCR to purchase your next deal.

Cash-out refinances work the same way as acquisitions. Instead of using the purchase price/appraisal to value the property, they rely on just the appraisal. 

There are not many LOC products available for investment properties. Are you looking for one because you are locked in at a low interest rate? If the property has been used as a rental property, it might be worth exploring refinancing with a DSCR loan.

It really depends on your financial situation. If you are starting out, I think it makes more sense to chase cash flow to build a solid foundation; then, you can start to add appreciation plays to your portfolio as long as you have a reliable stream of cash flow already coming in. 

Hey Chad, I think it would be worth it if you have a good safety budget. If work hours permit, it may be good to dip into investing while you still are making earned income, and then once you have some experience, make the jump. What investing strategy are you planning on pursuing?

Have you checked out using an FHA loan for a multifamily househack? You can do it with 3.5% down and use 75% of projected income towards your back-end DTI. I don't do conventional lending, but I suggest contacting a conventional broker to see what options are available for your goals.

Hey Amit - I suggest checking out BiggerPocket's "Find an Agent" tool! It can connect you with plenty of investor-friendly agents in your market!

Excel! 

 Just a separate entity for the realtor business and one for the property management business. I would see a lawyer to make sure you structure it property. 

As always, I should preface this by saying you should go to a lawyer. However, I used https://www.wyomingagents.com/

If you decide to do it individually, I will first ensure you know enough about registered agents and how to nest your entity to keep your identity anonymous.