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re: Rental Properties
Posted on 8/4/21 at 9:25 pm to Paul Allen
Posted on 8/4/21 at 9:25 pm to Paul Allen
quote:
Have you ever utilized a HELOC on a rental property to put a down payment on another rental property?
absolutely that can be done. a regular personal LOC can do that also for you. many also use velocity banking techniques aka HELOCs or other LOC to pay down mortgages if they feel the need to. gives you more flexibility. you cannot re-access capital you use to pay down principal from mortgage company. you can always keep accessing your HELOC or LOC for the life of the loan term. some get a property paid off. then get a HELOC. use HELOC to buy 4 more properties. then use new cashflow to pay down HELOC and then wash, rinse, repeat.
LINK
LINK
This post was edited on 8/4/21 at 9:29 pm
2
Posted on 8/4/21 at 9:30 pm to Fat Bastard
I’m following the “new” fad in real estate. BRRRR
That third R is refinance. Cash out refinance. I personally like the idea of locking down sub 4% interest over 30 years.
That third R is refinance. Cash out refinance. I personally like the idea of locking down sub 4% interest over 30 years.
Posted on 8/5/21 at 10:28 am to Fat Bastard
I'm currently looking at lenders for a cash out refinance. Would get some debt consolidated and pay for some remodeling in Guest bathroom and new floors. I'm thinking airbnb for 4-6 months and if it doesn't work going rental. Or should I go rental for a year and when tenant moves out then go Airbnb?
Also which lender do y'all recommend for cash out refinance I started making some calls last week going to talk in peraon in about 30min.
Also which lender do y'all recommend for cash out refinance I started making some calls last week going to talk in peraon in about 30min.
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