When I was enlisted I had 3 homes that I acquired through in 3 states, I used my VA loan for my primary residence and I took the other two loan from the states of Virginia and Florida, I had to provide a lot of paperwork, but in the end, it was worth it. 

. $250K HELOC available (against my primary residence) that I want to use to invest in residential rental property.

Anywho, since it’s outside my area I ask the realtor if he has any local bank recommendations.... gives me a name, president is a good buddy of his, handles the loans like this from start to finish...I reach out on Monday.

Are you looking for someone to do the most cost-efficient work to make it a rental, or higher-end work for a primary residence?

A little background also, this would be both of our first homes, we are not married but plan on it sometime next year or so, both have good credit, and moderate salaries, and this would be our primary residence. 

Does the LLC loan count against our ability to qualify for a personal residence?

Can you buy loads of stuff from retailers, photocopy the receipts, and return in all slowly over the next two weeks (while you actually use leftover new and salvaged building materials from various jobs bought at half-price from your contractor buddies on the flip?

I need some buddies to talk about investing in deals and fixing them up to hold for strategies such as taxes and etc...

I need some buddies to talk about investing in deals and fixing them up to hold for strategies such as taxes and etc...

Jeff Phillips comes down to risk.If you take a HELOC and something we’re to happen and you could not pay then you lose your primary residenceIf you get a regular loan and you cannot pay your not paying on that 2nd home and they take that but not your primary residenceCheck with an accountant as well as I believe with the new tax law you cannot deduct a heloc if it is not used to improve your primary residence