Steve Tse
Home Equity line of credit calculation
Hi there, great minds of BPs. Curious to know if someone has a good way to calculate the monthly payment on HELOC. For example, if I have 300k credit line at 3% interest for 10 years. I can derive that my monthly pay...
Monica Evans
HELOC or REFI???? What is best strategy??
Hi Guys,
Question on HELOC's - is the goal to use one and then pay off after REFI? Or, do some people use them and just make monthly payments with cash flow of the property once it's rented out? I'm guessing that dep...
Jeff Moule
HELOC write-off when used for purchase of property
We used our existing HELOC for a 100% purchase of our latest rental property towards the end of last year. Can we write off the amount of the interest, $1446, as an expense for the rental property? The interest rate ...
Brad Young
Thoughts on Reasons NOT to do a HELOC for 1st Flip?
Hello BP! I've been thinking through ways to help beef up my cash reserves to purchase my 1st flip, and have been seriously considering opening a HELOC. Since you obviously don't pay anything (other than smallish pape...
Patrick Boutin
What is the typical interest charged on a lease option?
When you "rent to own" a property to a renter (future buyer), does the payment include interest? If so, how much is the typical % rate charged on a such a transaction? I ask if there is a ballpark figure that one can ...
Jered Sturm
Ohio Security deposit law
I was reading an article and found this law for handling Ohio security deposits:OH "Any security deposit in excess of fifty dollars or one month’s periodic rent, whichever is greater, must bear interest on the excess ...
Stephen Hundley
BRRR strategy- refinance asap or let it ride?
I bought a house using a unsecured loan from a local bank that's 6% interest only. My monthly payments while I rehab is only about $300/m. It's going to rent for $1,350/m. Once I put long term financing on it my note ...
Abby Jenkins
Is this a good BRRRR deal?
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Nicholas Fazio
Explain this financing strategy
I don’t remember who said it or where even, but I quote:
“I'd get a secured line of credit against the property. That way can pay cash for another asset, refinance that property, pay off your line of credit, then u...
Nathaniel Wayman
Typical Hard Money Loan Terms
I have what seems to be a good deal that I hope to put under contract today. With that I am hoping to get a hard money loan to assist me in executing the acquisition and rehab. My question is what are typical terms fo...