All Forum Posts by: Hashmat B.

David Greene is a true asset to the team!! He has excellent tips.

@Jonathan Pflueger

Good idea, I have heard of the smaller bank strategy in the podcasts as well. I will look into some smaller banks in my area. 

@David P.

I will check PatelCo as well. What do you mean by frothy? I was interested in investing in Florida specifically foreclosures or properties that need a good amount of rehab. California is too expensive for my price range. 

Jonathan Pflueger Yes I meant my primary residence. I have only checked with big banks so far Bank of America, Citi Bank, US Bank, and Wells Fargo so far. Good idea, I haven’t checked with any smaller or local banks yet. I was under the impression that the smaller banks have a higher markup (Based on some of BP forums I have come across). I will make some calls/appointments to confirm rates with the smaller banks. I am getting a feel for the variable prime rates rates and their markups so far. I have applied with Citibank so far and just waiting for the next step. Just want to make sure I am getting the best deal.

Hello all, I currently have a checking and savings account with Citibank. I want to obtain a Heloc loan to have more cash to BRRRR. I have 50k in savings and would like to obtain a line of credit for 100k giving me total of 150k to invest with. I will only pull what I need from the 100k line of credit. I want to purchase my first out of state investment rental property to BRRRR with this money. I currently live In the SF Bay Area in California. Anyways I just completed my application. Citibank offered me the following: 3.99% variable for 12 months, then 5.49% to 5.99% once the credit check and further details have been processed. There are no closing costs as long as the account is open 3 years. No annual fees. Once I refinance the BRRRR’ed property I will pay the heloc off right away. My question is, is this a good rate? Are there better deals out there? I have checked with US Bank and Bank of America but the differences were not significant enough for me to open an account with them. Just making sure I don’t have any regrets.

I just sold my house in Antioch. We hated that city. It took us 8 months to sell our home. There is a reason Antioch is so cheap. If you don't mind living in a high crime city with bad schools then go for it. The only upside is you can get a lot of house for the money. That city does not have enough Police Officers to properly maintain it.