Prioritize your financial stability.

@Williams HerreraStarting investing in real estate involves education, networking, and setting financial goals.

Hey BP peeps,When seeking a HELOC, does anyone know of a financial institution that works well with clients that lack W2 income?

For both the applicant(s) and a co-signer, you want to understand their habits...financial, employment, legal, character, etc., as Bad habits in one area typically carry over to other areas, and will land you a poor Tenant (or co-signer) choice.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

If you are going to be active, and have high conviction in a project with a clearly defined entry/exit strategy then using a HELOC is one of the better sources of capital.But, I continue to have my stance that, on average, folks who use a HELOC to fund the down payment for long-term investments will eventually find themselves in a situation where their portfolios drain their personal financial situations, rather than fueling them. 

I have 17 years of corporate RE and compliance experience, so the LIHTC reporting and annual financial audit does not scare me.  

Now enjoying "retirement" he loves to assist other new and seasoned investors down the path of financial independence through real estate investing.The Thursday meetup is quite similar and consists of several local investors who can attend when they are free. 

@Olga Zelenko from a rent and leasing standpoint it is has had no financial impact thus far.

Richard,Due to higher rates a HELOC can sometimes be a financial burden and a deal killer down the road.