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17 January 2025 | 16 replies
as @Marcus Auerbach alluded to, out of state / remote / out of country investing is difficult... do you have everything else lined up?
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19 January 2025 | 9 replies
Luckily my agent lined up another buyer right away.
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24 January 2025 | 5 replies
Although I've considered a future line of credit against the property as my best long term option, I would need to pay down the remaining balance first.
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12 January 2025 | 6 replies
The down fall is a Heloc can "Never" be used as an asset or for PITI reserves required when buying a new Primary or investment property.A heloc can also cause major issues with credit and one slight hiccup or missed payment the bank or lender who is holding the Heloc can close or reduce your line of credit.
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30 December 2024 | 5 replies
I would say for most people, the 1st position heloc is no a good bet, especially if you have a 1st mortgage rate of less than 5%.Using this strategy with a 2nd position heloc can be just as powerful, so you can have your cake and eat it too!
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27 January 2025 | 11 replies
You've done a great job with keeping your debt low so I have no concerns about your level of discipline to use/reuse a line of credit.All the best!
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1 February 2025 | 3 replies
@Josh Smith just like any rental property you buy, manage, rehab, etc. nobody cares as much about your bottom line as you do.
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6 January 2025 | 8 replies
SetbacksSetbacks are the minimum distance the ADU must be from the property lines and it all comes down to the specific zoning you are in.
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17 January 2025 | 2 replies
Beyond the bedrock issue, soil conditions can be costly if the property has problematic soils such as too much silt, deep topsoil, or extensive wetlands.You'll also want to know what ordinances are going to affect your budget - things like tap fees, tree ordinances, storm water retention policies, etc.Bottom line is that you have to investigate ordinances, off-site conditions, and on-site conditions before you can even begin to budget your development.
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19 January 2025 | 10 replies
For future readers, many banks will offer an unsecured line of credit up to $25k.