Securing Financing - Next Steps
I'm going through the underwriting process right now to see how much of a HELOC I can get to leverage the down payment on my first Buy & Hold Property.
This process I was told can take 3-4 weeks (appraisal, credit check, etc.).
I think I am eligible for a HELOC amount somewhere between $10k - $25k.
I'm looking in the Indianapolis market.
What can I do in the meantime to prepare myself to take action on a deal?
I listen to BP podcasts, plan on going to REIA meet ups, have sort of a newbie mentor, and have an investor-friendly agent referred to me by my mentor.
What additional steps can I take to find my first deal? It's hard because I don't know how much $ I will get, but I don't just want to sit on my hands waiting for the underwriting to be processed. I'm thinking about "bird dogging" it with my mentor if he'll allow me on his property.
Thanks,
Ethan