This is just my experience with HELOCs, I’m not licensed to give any kind of financial advice, check with your accountant or financial advisor to ensure you are utilizing the correct financial products to reach your goals.

You may be indeed correct about heloc on rental properties but its worth shopping out.

So, if I understand correctly, even if a property has a 2nd mortgage against it, it would be recorded, and it would also get wiped out as part of the foreclosure process, right?

I am looking to get my real estate license next year after I graduate so I can use the best tools to find properties.

Absolutely correct.

Hey community, I am exploring starting a hard money lending business and wanted to start a thread for all advice on the topic (including what not to do or tools not to use).  

Just to be clear when you refinanced 75% of the appraised value equaling $41,250) You paid back the first loan of $35,900, leaving a remainder of $5,350 in your pocket correct?

Hi @Sam SopheakGetting your license can be quite advantageous if used correctly, but it can also be costly as the dues you need to pay for the NAR and MLS can be quite high.

What's included in this package is connections to lenders and investors, mentors, some sort of boots on the ground in 4 weeks, a expo in Las Vegas and access to tools on their website.

And that’s 75-80% of the newly appraised value correct?