Chicagoland RE investor hopeful
Hi there! My name is Annie. I bought my first home at 23 in 2010 in the suburbs of Chicago at the bottom of the market with an FHA for about 99k, with 3% down. I suppose I “house hacked” without realizing because I decided shortly after moving in I wanted to move to the city, so I began renting out my home. It’s currently appraising for $160s so I’ve decided to take it a HELOC to or a down payment on another rental property, should get about $45k. I’m really excited to get started and I’m hoping these forums will bolster my enthusiasm.
I’m trying to get to the bottom of HELOC money “seasoning” because once I get access to the cash I really don’t want to wait for two more months to make a deal! So trying to figure out a way around that.
Any feedback or support is welcome and appreciated.
Looking forward to working within this community!!
Cheers,
Annie
Most Popular Reply
Hey congratulations on your rental property! That’s awesome keep up the work don’t slow down
What are you looking for in Joliet? Are you looking for something turn key or are you looking for something to fix up?
Reason being is I have a two unit by St Francis that’s going to be completed in the next 2 months turnkey and I’m not opposed to selling!