Jason F.
What are realistic ROI expectations in the Chicago area (multifamily)?
Medium income healthcare family.Family W2 yearly salary: $175k. In two years: $300k. In seven years: $550-600k.Net worth right now: $700k.Previously owned small rental units and flipped a few homes. Liquidated nearly ...
Shiloh Lundahl
I LOVE Debt!
I hear a lot of people who hate debt. But I love to use debt to build wealth! I view debt the same as I view a fire. Fire can burn down your house, but it can also heat your water, cook your food, heat your home, and...
Stephanie Harris
What's the deal with cash out refinancing in Texas?
We are interested in a cash out refinance of our current home so we can make repairs, rent it out, and have a little cushion. I called USAA, Navy Federal and PennyMac -- each who said Texas doesn't do cash out refinan...
Joe R.
How to unlock my equity?
I bought a rental property cash. I now want to use my cash equity to buy another property to buy another. How can i do this?I cant refinance as there is no mortgage and my local bank told me they will not give a HELO...
Alexander Chavez
Using a home line of credit as levrage
Hello,Anyone have experience using your current homes line of credit as leverage for your next Investment? I am planing on doing this in Chicago and was wondering if this is the best route for one of my funding optio...
Mark Beekman
A couple of basic HELOC questions...
I just signed a Purchase Agreement for a SFH (rehab). It's a cash deal, but I'm looking to pull the equity out after closing via a HELOC. Would there be any specific timeframe after the purchase that a bank would requ...
Nick Larsen
Interviewing a Hard Money Lender
Hello BP people! I am wondering what are some good questions to ask and things to look for when interviewing a hard money lender?
Ian Salinas
Payoff line of credit?
I took out a $60k line of credit from my house to fund my first deal but I only used about $30k. With interest rates being so low, I’m looking into refinancing my home and taking cash out to pay off the line of credit...
Benjamin Lapidus
Portfolio Loan Contacts
Hi BP,I have a local bank that has historically offered me a cash out ReFi with the following terms:5.75%25 am10/1 arm75% LTV2 PointsNo seasoning on titleThe bank has recently been acquired by another bank and is no l...
Jorge Duarte
Buy and Hold Investments
Investment Info:
Single-family residence buy & hold investment in San Luis.
Purchase price: $133,000
Cash invested: $3,000
Pocket listing, purchase price $133,000 got a conventional loan (5% down...