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9 January 2025 | 2 replies
I talked to my lender contact and, as Kerry mentioned above, it's pretty uncommon that a traditional lender would offer a HELOC product on an investment property (non-primary home).
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20 January 2025 | 8 replies
Or when syndication is struggling like it is move into the training business.there is huge money leveraging your on line popularity where folks will have an irrational opinion of someones bona fides based on SM media presence etc.
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9 January 2025 | 3 replies
No sure about that as buyers want to see the finished product and showing them before pictures will often not be well received.That's funny, my wife said the exact same thing about showing them the before pictures.
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23 January 2025 | 15 replies
They always make sure to have line(s) of credit to get them through challenging periods.
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18 January 2025 | 3 replies
Bottom line: the tenant doesn't get to decide how to pay you.
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16 January 2025 | 2 replies
You have used home equity lines of credit to purchase investment rentals and want to know the best way to pay down the HELOCs.Between the two properties you bought, after expenses, you have $250 a month positive cashflow to use.What I like to do is pay down some principal every month with my positive cashflow.I use my extra active income from real estate commissions helping other investors to pay down the principal even more which just frees up that credit for me to use again.I know I can refinance the HELOC debt before it changes to principal and interest as it is just interest only payments as yours are.One difference is the cashflow, I have greater positive cashflow and could make the principal and interest payment in the future with the extra cashflow I already enjoy.I always get HELOCs on my income properties as well after purchasing them to pull out as much of my downpayment as possible.
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20 January 2025 | 62 replies
This can slightly affect the LTV or interest rate because your loan is based on the income of property therefore we need to make sure that your property is debt servicing at our minimum required ratios.We are introducing new products in September.
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12 January 2025 | 12 replies
It’s super important you prioritize the end product: something that gets the job done well as an STR.
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14 January 2025 | 4 replies
He continues to deny he lives there, lied to the police when they came with a code violation and inspection, and most recently overloaded the electrical and blew/snapped the line!
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14 January 2025 | 3 replies
If I have several options, I would prefer a HELOC with no initial draw requirements (i.e. to establish a literal line of credit that I have no specific short term plans to use), i.e. not something like the better.com HELOC.