
2 July 2024 | 9 replies
Instead of selling, have you considered getting a HELOC on your primary home?

1 July 2024 | 6 replies
@Trey Campagna without knowing much about your situation I'd say the first thing to do is to use a VA loan to buy a primary residence with as little money down as possible and the lowest interest rate available.

2 July 2024 | 7 replies
From what I understand you can have 10 conventional loans at one time and you can also have one FHA loan as your primary home if you don't have one.

1 July 2024 | 6 replies
Each option has its pros and cons that can impact your investment strategy and overall success.HELOC (Home Equity Line of Credit)Pros:Lower Interest Rates: HELOCs typically offer lower interest rates compared to hard money loans.Flexible Terms: You only pay interest on the amount you draw, providing flexibility in how much you borrow and when.Revolving Credit: As you pay down the principal, the available credit replenishes, allowing you to use it for multiple projects.Longer Repayment Periods: HELOCs often have longer repayment periods, which can make managing payments easier.Cons:Qualification Requirements: HELOCs require good credit and sufficient equity in your primary residence.Secured by Your Home: Your primary residence is collateral, which means a default could risk your home.Variable Interest Rates: HELOCs often have variable rates, which can increase over time.Hard Money LoanPros:Easier Qualification: Hard money lenders focus more on the property’s value and potential rather than your credit score.Speed of Funding: Hard money loans can be approved and funded quickly, which is beneficial in competitive markets.Flexible Use: These loans are designed for real estate investments, making them suitable for purchase and renovation costs.Cons:Higher Interest Rates: Hard money loans typically have higher interest rates and fees compared to HELOCs.Short-Term Loans: They usually come with short repayment terms (often 12-24 months), requiring a quick turnaround on your project.High Fees: Origination fees and other costs can add up, increasing your overall project expenses.For a BRRRR strategy, a HELOC might be the better option if you qualify and have sufficient equity in your primary residence.

2 July 2024 | 29 replies
We used the money to pay her car note off and did our primary home remodeling so now she's happy and on board for future deals.

1 July 2024 | 10 replies
Does the residency requirement for primary housing require living in a legal unit?

1 July 2024 | 1 reply
I have 200k equity in my primary residence that is burning a hole in my pockets.

2 July 2024 | 7 replies
I currently have 4 properties, 3 being rentals and 1 as a primary.
1 July 2024 | 3 replies
Commercial note rates are typically higher than primary.

1 July 2024 | 5 replies
Couple things in your way: buying house from Dad isn't arm's length transaction; $23000 annual income = $1916 a month how much credit cars/student loans/vehicles/ and primary residence payments/ is there depreciation added back to that number?