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re: Rental properties. How to start
Posted on 6/18/22 at 7:57 pm to Fat Bastard
Posted on 6/18/22 at 7:57 pm to Fat Bastard
Need some advice...we have two potential deals on two properties that we would end up buying with $40/50k of equity right off the bat. Both need some rehabbing, but not a ton. Definitely can hit 1% on both.
We're a little cash poor now since we're paying cash for a house in Mexico. One of our properties has a mortgage of $330k and is worth $900 to 950k. We've tried doing a HELOC but they are a nightmare when it comes to investment properties. Cash out refi doesn't really make sense since our mortgage on this one is 2.85.
Another option would be for me and my business partner to take HELOCs on our primary residences.
We're a little cash poor now since we're paying cash for a house in Mexico. One of our properties has a mortgage of $330k and is worth $900 to 950k. We've tried doing a HELOC but they are a nightmare when it comes to investment properties. Cash out refi doesn't really make sense since our mortgage on this one is 2.85.
Another option would be for me and my business partner to take HELOCs on our primary residences.
1
Posted on 6/18/22 at 8:52 pm to TheOcean
quote:
We've tried doing a HELOC but they are a nightmare when it comes to investment properties.
I've used my heloc on 4 rentals.
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