All Forum Posts by: Victor Medina

Has anyone had success getting a HELOC on an investment property in the Charleston area? I've tried calling around but seems like banks are only considering HELOCs for primary residences.

Hey Keith! Hope all is well with you too. To be honest, I was updating my profile to reflect my current investment and (incorrectly) thought it was required to post it when saving. I didn't see Save + Closing without posting was an option hahaha. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $135,000
Cash invested: $27,000

Renting out a property in the North Charleston area.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $135,000
Cash invested: $27,000

Thanks @Alexis Hui!

All in all, I've seen significant growth in Long Beach from my few years living here. There's a town of growth specifically in downtown Long Beach, Bixby Knolls (Northwestern part of long beach) even around 2nd street (southeast by the beach) Long beach growth has been so significant that the rent is following suit (https://www.apartmentguide.com/blog/10-cities-where-rent-is-increasing-the-most/) so I think in regards to SoCal cities to invest in Long Beach is not a bad bet.

That being said there are still areas that are night and day when it comes to safety and growth. For example, Bixby Knolls has grown a lot however if you go several blocks north or even south (right before downtown long beach) it's considerably less developed a bit more unsafe.

@Alexis Hui Had some people message me but still exploring options. Still in the beginning process of potentially buying a property down here as I recently bought an out of state property so current funds are on the lower than comfortable side 🙃

I've been living in Long Beach for almost 5 years now so don't hesitate to reach out if you have any questions about the market, good/bad areas, etc.

Long Beach transplant here considering buying a property in the new year utilizing a FHA loan (potentially 203k loan as well).

Anyone have recommendations on investor friendly agents/lenders?

All suggestions/advice are welcomed :)

Hey Timothy any recommendations for a HVAC contractor? I need some HVAC work on a property I'm fixing up.

Hey Timothy any recommendations for a HVAC contractor? I need some HVAC work on a property I'm fixing up?

Thanks for all the feedback! Just some clarifying remarks, the current set up is the property manager must get approval for any expense over $350 and I require seeing multiple quotes before approval.

The only difference is whether the payment goes through him and I "reimburse" him through the PM portal which has a 3% credit card fee or I pay the contractor directly potentially avoiding the 3% credit card fee and being able to accumulate those credit card points.