
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.

30 June 2024 | 9 replies
Great job, you just told a potential seller in distress that they can't provide for their family.

2 July 2024 | 26 replies
The rehabs also do not provide me the same sense of accomplishment/entertainment as they once did which is also why this may be my last project as GC I plan on using a GC next time but have zero regrets having been the GC on numerous efforts.

27 June 2024 | 4 replies
I assume I just put the original amount they provided.

30 June 2024 | 2 replies
So, acquiring the property for a $2,100 cost with potential earnings of $2,900 is acceptable in your evaluation, provided there is sufficient financial backing to cushion any potential setbacks.Thank you, Frank!

1 July 2024 | 22 replies
I'd love to connect and possibly discuss how I may be able to help or provide some insight!

30 June 2024 | 9 replies
I provided and they reversed the cancellation and unfroze the account immediately.

30 June 2024 | 1 reply
Lenders that have flexibility to originate in multiple states and have a wide range of programs available provide more value.
28 June 2024 | 14 replies
Consider factors like flight convenience, property management options, and your comfort level with the local market conditions.

29 June 2024 | 12 replies
Does it provide protection between stays?