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All Forum Posts by: Troy Wade

Troy Wade has started 1 posts and replied 3 times.

Starting Out

Post: Exploring Real Estate Investment Options

Troy WadePosted
  • New to Real Estate
  • Maryland
  • Posts 4
  • Votes 1

6.3% (purchased last year) I'm not sure about a cash out refi cause rates are still pretty high at the moment 

0 Votes
Starting Out

Post: Exploring Real Estate Investment Options

Troy WadePosted
  • New to Real Estate
  • Maryland
  • Posts 4
  • Votes 1
Quote from @Tim Casey:

I think you are on the right path with exploring the HELOC. Best bet is to contact your trusted lender or other financial institutions to compare offers to find the best interest rates and terms that suit your investment strategy. From there, you will have a better sense for how to proceed with portfolio expansion. Keep us posted as you progress. Best of luck!

Thanks Tim! Appreciate your advice.
0 Votes
Starting Out

Post: Exploring Real Estate Investment Options

Troy WadePosted
  • New to Real Estate
  • Maryland
  • Posts 4
  • Votes 1

I currently own a property under a USDA loan, which has $100k in equity and generates $250 a month in cash flow from rent. I'm looking to purchase another home or undertake a flip. What options do I have for financing this next venture? Would using a Home Equity Line of Credit (HELOC) be a good move? I originally purchased this property as a vessel for real estate investing and am uncertain about the best next step. Could anyone provide recommendations on the most effective strategy for expanding my real estate portfolio?

1 Vote