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All Forum Posts by: Tricia Holway

Tricia Holway has started 2 posts and replied 7 times.

Post: Wholesaling in East Texas

Tricia Holway
Pro Member
Posted
  • Posts 10
  • Votes 0

Hi Donna! I'm looking to connect with wholesalers and see how I can help them with their deals. Pls feel free to reach out so we can connect! 

Post: Let’s connect and do business

Tricia Holway
Pro Member
Posted
  • Posts 10
  • Votes 0

@Nathan Judah Hi Nathan! I saw your wholesaler post & wanted to reach out and connect! Im an investor looking to joint venture with wholesalers on their deals. Let me know if you need help with transactional funds (i.e EMD, double closes) or if you need help looking for a buyer, I have a network of investor that I can tap into. Feel free to reach out!

Post: HELOC on a second property

Tricia Holway
Pro Member
Posted
  • Posts 10
  • Votes 0
Quote from @Dennis Nguyen:

Hey Tricia! I would reach out to your local credit unions. I have heard they offer favorable HELOC's for investment properties.

Thank you, I will try and search for one. Do you know of any credit unions that lend equity loans on investment properties?

Post: HELOC on a second property

Tricia Holway
Pro Member
Posted
  • Posts 10
  • Votes 0
Quote from @Carlos Ptriawan:
Quote from @Tricia Holway:

Hi everyone, 

I'm looking for some advice as far as HELOC goes. I have a property in Washington state that has built up some equity so I called some banks about a HELOC and they are telling me that they do not lend a HELOC on nonowner-occupied property. This property is like a second home right now (I bought a house in Florida last year and made it my primary residence) I still have all of my furniture in my Washington property and I just started doing Airbnb with it but bookings are slow at the moment so I'm not really making any extra income from it. I technically could still visit that house and stay there if I wanted to. Does anyone know of a lender that is willing to do a HELOC on a second home? Thank you in advance!


There're few rental HELOC lender outthere, youcould search from archive and I was able to call them as well. HOWEVER

most of them only willing to work with you if you have 50% LTV.


 Good to know, I will definitely search and reach out! Which ones have you called? Any luck with those?

Post: HELOC on a second property

Tricia Holway
Pro Member
Posted
  • Posts 10
  • Votes 0
Quote from @Taylor Dasch:

HELOCs are very hard to find on investment properties. Contact Jay Hurst on this forum, he has a similar product that is a second lien loan which will allow you to keep your current interest rate and just pay the interest on the equity that you pull out of the property. This is the closest thing that I could find to a HELOC on an investment property.


 Thank you for the recommendation, I will reach out to him! 

Post: HELOC on a second property

Tricia Holway
Pro Member
Posted
  • Posts 10
  • Votes 0

Hi everyone, 

I'm looking for some advice as far as HELOC goes. I have a property in Washington state that has built up some equity so I called some banks about a HELOC and they are telling me that they do not lend a HELOC on nonowner-occupied property. This property is like a second home right now (I bought a house in Florida last year and made it my primary residence) I still have all of my furniture in my Washington property and I just started doing Airbnb with it but bookings are slow at the moment so I'm not really making any extra income from it. I technically could still visit that house and stay there if I wanted to. Does anyone know of a lender that is willing to do a HELOC on a second home? Thank you in advance!

Post: Washington state CPA recommendations

Tricia Holway
Pro Member
Posted
  • Posts 10
  • Votes 0

Hi BP community! For those of you who live in Washington state, do you have a CPA that you would recommend? I'm currently living in Spanaway WA and I am using my house as a room rental property. I am also a travel nurse so I earn wages in other states. My tax situation is a little unique so I would love to hear some recommendations. Thank you so much in advance!