All Forum Posts by: Bradley Benson

@Patrick Roberts thanks for your reply. We have equity in our primary home but have not taken out a HELOC, so this would be a new line for addressing the balance. What are the chances a lender would call or cancel the line?

I don't see where we would loose the line. However, I do not see our family staying in our current home long term. When I talked to my realtor he had some hesitation on using the HELOC and it tying us to our current home.

@Ghassan Jabali I appreciate your reply. To clarify, the prior property in the 10-31 is fully paid off. The new investment property is higher in cost by $40k. I'm trying to be strategic in decisions as I'm trying to grown my investment portfolio. However, overthinking could get the best of me at time.

Currently have an outstanding rental property balance of $40k, via 10-31 exchange (prior property paid off). I'm trying to decide on using accessible cash or taking out a HELOC on our primary home to payoff the rental.
 
HELOC would be a fixed rate of 6-7% on a  10-year term. 

My thoughts...taking out the cash can potentially hinder future opportunities such as a house flip that I could use the cash on. The HELOC could be utilized more wisely in other potential investment situations.

Any other suggestions?

@Drew Sygit I appreciate that, great way to look at it!

@James Wilcox 👍

@Lauren Robins thank you!

I know there are different threads on property management programs, however I am looking for suggestions on a platform that also offer banking with a HYSA. From the research I've done, brick and mortar or even online banks don't offer HYSA for businesses/LLC. Correct me if I'm wrong!

I have been looking at Baselane and Stessa due to other reccomendations as a solid property investor service with a fairly decent HYSA percentage (as of April 2025). Do any of you advise against mixing rental property banking with management programs? Is a HYSA not a make or break?

Some other programs I looked at are Tenant Cloud, Avail, Rent Redi. Is there any other ones to consider at this time? I see a lot of mention of Quickbooks but from what I've seen is that it does not translate easily for a property investor. 

I have 2 rental properties that are local to me and hope to add in the future. 

Any input is greatly appreciated. Thank you

Hello Bigger Pockets community! I am new to the forum. I recently completed a 10-31 exchange and purchased a new townhome in Lexington, SC. Prior to making this purchase I briefly reached out to a few attorneys to ask about assistance with drafting a lease (not much luck). I was then directed by a close realtor friend on a property management company who could provide 2 types of services, 1) Marketing only (list, screening, onboarding, and lease signing) that is owner managed or 2) Fully managed property. I went with option 1 and it turned out great, they were able to secure a tenant within 30 days of listing and the tenants have been great. The cost is a full months rent. I have no regrets on utilizing this service to start out but I have come to find that there is some great full service platforms (Stessa, Tenant Cloud, Avail, BASELANE, etc) that provide the same services but at a fraction of the cost. Also, I plan to use one of these platforms and don't want to duplicate a utility. 

I live local to the rental property and don't see the need for full blown property management at this point. I'm looking to maximize the return. 

Are the online investor friendly platforms, like the ones I mentioned above, easy to list properties for rent and screen tenants? Do you trust the lease agreements they provide (I understand lease language can vary and should be reviewed), but is one better the other?

Lastly, do you reccomend me doing this as much on my own while utilizing an investor friendly management program?

I appreciate any input. Thank you.