Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
Results (10,000+)
Austin Fowler Help deciding whether to sell or keep. Please advise.
2 July 2024 | 9 replies
Instead of selling, have you considered getting a HELOC on your primary home? 
Trey Campagna License Home Inspector / future real estate investor
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.
Dario De Pasquale How to Expand your Real Estate Portfolio without Running Out of Financing
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.  
Damion Brown Heloc Vs Hard Money Loan
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.
Akshay Bhaskaran My BRRR Deal! ;)
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.
Dylan Cadet Can I live in an illegal unit to meet the residency requirement?
1 July 2024 | 10 replies
Does the residency requirement for primary housing require living in a legal unit?
Devonne Blackshear 200k in Equity
1 July 2024 | 1 reply
I have 200k equity in my primary residence that is burning a hole in my pockets. 
Ethan Clay Lesperance What I have been up to and ways to more effectively move forward. BRAINSTORM
2 July 2024 | 7 replies
I currently have 4 properties, 3 being rentals and 1 as a primary.
Brandon Martinez Creating an LLC
1 July 2024 | 3 replies
Commercial note rates are typically higher than primary.
Austin Mulhern Issues getting 46k mortgage loan due to Self Employment
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?