All Forum Posts by: Vincent Q.

@Bee Vang

Bee,

Fyi, i have seen numerous people on bigger pockets state the. Pen fed credit union does heloc on investment propertys.

I called earlier and this seemed to be true.

Give it a shot and call them.

@Chris Mason

Gotcha, I understand. Thanks for explaining.

@Chris Mason

Chris,

Thank you for explaining that! That helps me better understand the difference. Thats correct, im not looking for a full gut job. As you said, im looking for a granny house. Cosmetic stuff

Great way to explain what i am looking for.

Just to clarify, do you suggest to pay down the heloc with the rent profits. Or- refinance have one mtg payment. And pay the heloc back.

Then do it all over again

I need help figuring out the last part. Pay down the heloc. Or refinance?

@David Sisson

David, thank you for the reply, I always see people post brrr and pay in full Then refinance

But I dont see alot of info on using heloc for down payments with a conventional mtg on the remaining balance and then refi.

@Thomas Miller

Thomas,

My strategy is a little different. I want to use heloc for down payment and conventional mortgage the rest. Then refinance, and have one payment.

Its a little different than the normal brrrr.

@Tarik Turner

Thanks for the reply Tarik,

I know Penn fed does helocs on investment property.

I just became a member. I have seen numerous bigger pockets members refrence them.

Hello all,

Im a new Investor, and need some advice. Please help!

I am looking to obtain a heloc on my single family investment property and use the funds for a down payment on another investment property to rent out.

Is this a practical strategy?

Heloc for down payment and closing costs. Then get a Tennant in place, then refinance and pay the heloc back.

Can you please provide and suggestions, comments, and feedback. It will greatly be appreciated.

Thank you!

Hello All,

Can anyone give advice on if this is a good way to invest. I have one single family investment property.

I am looking to get a Heloc and buy a second investment rental property.

Is this a good strategy.

Heloc to obtain the property which would be 20% down plus closing costs.

Get a tennant in place.

Then refinance and pay back heloc

Your advice, comments, and suggestions would be a big help.

Please help me!