All Forum Posts by: Account Closed

I have 2 SFR’s under my belt in the North Phoenix/Scottsdale area. I’m looking to make a move toward house hacking a 4plex in the Phoenix area. What kind of metrics should I be using to compare opportunities? Cap rates are all over the place and I’d love some pointers on things to avoid!! Please help!

I subscribe to the BRRRR strategy and have completed 2 deals so far. I’m scoping out a couple multifamily deals in the Cleveland area and am wondering what I can do in the local market to maximize my investment dollars relative to my ARV appraisal. Anybody an expert in the appraisal logarithms?

Thanks Michelle, that's correct that a HELOC would be at 80% LTV. In order to skirt that requirement I'm considering a standard home equity loan (HELO) in the form of "debt consolidation" to pull out 10% equity leaving me with 90% LTV - not available through a standard HELOC.

I own a $300k home that’s approaching 20% equity. I am considering taking a HELO out to effectively drop my equity to 10% and give me $30k to purchase an investment property at 10% down. I have come across a strategy whereby I’d take $30k out on a credit card to use as the down payment with no fees. Then I‘d immediately do a HELO against my ”credit card debt“ and pay off the credit card off with the HELO. The thought behind this being that banks will offer a HELO to pay down usecured debt, but would not do a cash out refinance or HELOC when I’ve only got 20% equity in the one property. This would effectIvely give me $30k cash and 10% equity on each property if i purchased a second place with $30k down at $300k all in. BP...what do you think?