All Forum Posts by: Adrian Balderas

@Jonathan Pflueger

Yea I haven’t just let it shut me down. I’m also transitions into a New career so calling banks when I can. However it seems I’m not prioritizing calling them due to the fact of the two local banks shutting me down.

The HELOC is on my primary home which we got well below market value.

Why am I getting push back from my local banks on HELOC? I'm trying to start a relationship with a local bank and when I bring up options for financing and wanting to get a HELOC they suggest that it's not the best or right way to go.

@Rob Gillespie

Wow this is exactly what I needed to hear. We actually are going to look at two properties tomorrow that are owner financed/ sold on contract with 0% down.

Was very down at first getting denied and denied. Was also getting discouraged from even starting. Can’t wait to see what’s to come out or tomorrow.

For those of you who started with 0$ or equity in your house. How did you get started?

With most banks requiring 20% down for investment properties. Maybe I have the wrong finically advice and there are other ways to get your first rental property.

What’re some other ways to get your first property with out the 20% through a bank.

@Salvatore Lentini what's stopping he is every time I turn around for a HELOC OR CELOC I get shut down. We have equity in our home we have now. However, we do have some debt under us. Not a crazy amount but we have some.

I'm trying to start investing 29 years old and my wife is 26. We have some debt under us we also have some equity. Brandon gave me the idea to get a HELOC instead of a cash out option on our refinance. Well local bankers have said to do a commercial line of credit opposed to a HELOC. House will be appraised for the line of credit. However, when we bought the house since we bought so low they had a hard time appraising it due to the amazing purchase price. The appraiser at the time said houses like ours range from 115,000- 125,000$. I feel like every time I turn around I feel as if I'm just getting shot down and shot down in the investing side of real estate. Any guidance would be great.