Shayne Garcia
House Hack Help Finance Questions
Hey BP family! Question from a newbie here. Recently I purchased my first investment property by way of using a HELOC on my existing home to finance the cost to purchase a second home that I am now living in. I have ...
Josh Wickboldt
Primary residence loan rule for occupancy?
I am working with a lender and trying to pull some cash out of my primary home, which is a triplex that I house hack. I am deciding between cash out refinance and a HELOC. One lender tells my for their cash out refi...
Michelle Le Mere
Please point me in the right direction
Hey everyone, I would just like a shove in the right direction. My credit is 780, no debts except my mortgage. My house is valued at 224,000 and I owe 120,000. So, I was thinking I could take out a HELOC on my curr...
William Brock
HELOC on an investment property
Hi there! I'm new to REI as of early 2018, turning my previous home into a rental and acquiring a long-distance turn key rental shortly thereafter. I'd really like to keep my momentum moving, and am trying to determin...
Joel Gierbolini
Any banks that can allow you to use a Heloc as a down payment?
Just a Newbie trying to the BRRR strategy 😅I have been contacting a lot of banks and have not had any luck finding a bank that can let me use my HELOC as a down payment on a property. Any suggestions? Gracias in advance!
Jeremy Wells
Subject-to property now in foreclosure - opportunity?
I found a condo that was sold by 'John' to 'Bob' in 1998. Bob bought the condo subject-to the existing financing. The loan is still in John's name, deed is now in Bob's name. Bob also took out a HELOC on the property ...
Brandon Wood
HELOC Calculation Misunderstanding
I’m just getting started in REI and went to my bank today to inquire about opening a HELOC. My bank said they would loan 80% of equity. However, when calculating the lendable equity, she used the formula:Estimated Hom...
Tom Blankenship
Running the Numbers Using a HELOC
I would say I have a quick question, but it is not so quick. My wife and I are looking at purchasing our first deal other than the investment properties that we own through our IRAs. We are focusing on local multifa...
Anil Bajnath
Cash out refinance V.S Home equity loan
hey all, i currently have a rental property out in orlando, FL. i’m looking to grow my portfolio and getting another property. my question is, which is the best way to do so. cash out refinance or home equity loan. th...
Allison Stewart
HELOC on owner-occupied duplex??
Hi all, my husband and I are looking into doing a HELOC on our current owner-occupied duplex (we live in one side) to help fund a down payment on another duplex. Does anyone know a local credit union or bank that will...