All Forum Posts by: Zak Dolak

Hey guys,

Question, I want to get a HELOC. I've checked into my Credit Union and Primary bank. The CU offered me $200k, interest only or principle and interest payments. First year a rate of 5.24% and after that it's 1/2 point below prime for the life of the loan. $550 for an appraisal of my primary residence, no other fees.

My primary bank offered me $300k, principle and interest payments only, .09% above prime the life of the loan and an $82 dollar fee. 

Which would you guys choose? Some background, I am a new investor looking for my first property. I'm roughly 40 minutes south of Allentown, PA. My primary residence is paid off which is why I want to get a HELOC.

My plan is to buy a few LTR’s to start out. 

Thanks!

Zak D. 

thank you for the advice and your insight! I will be attending local meetings within the next two weeks. This first post alone has connected me with a few great people. I love how eager to help everyone is on this forum. 

Hi, my name is Zak Dolak, I am a beginner investor. Ireside in SE Pennsylvania and would like my first investment property to be local to the area. I have yet to make my first deal but very eager to get my feet wet. Any tips, leads are very appreciated! I have a lot of questions, mainly about financials because I’m in a pretty unique situation. 
Thanks for reading, looking forward to learning more!