All Forum Posts by: Brian Brusich

@Gary Carver thank you

@Mike Dorneman last question I think, is there a benefit to HELOC each new property versus just keeping heloc open on one of your most valuable properties and paying it off intermittently?

This question is based on my situation as a new investor:

Is it likely to find a lender for a commercial loan on a 10 door or more building if you meet the financial criteria. Ie good debt to income ratio and 15ish percent down payment.

Or are they more likely to turn down because of inexperience in management a building that size?

I'm wondering if it might be a good strategy to start rather large, attempting to find a building with a clear path to increasing NOI then at closing HELOC that building as a piggy bank for future projects which can be Daisy chained with refi similar like you would with brrrr that keeps refunding initial short term HELOC.

Advice?

@Mike Dorneman I'm new so let me reword what you said and you tell me if I'm saying it right

You HELOC asap and don't draw on it until you need cash, in this way you don't have to pay interest until necessary

You use as a bank that allows you to refi to arv value to pull equity and instantly repay HELOC. Bank is chosen for three factors, feeless loan transfer of HELOC to refi, no seasoning period and offer based on arv. At that point low interest rates would be icing.

Do you use the same initial HELOC for cash flow or do you open a new one on the next place and sort of Daisy chain as you go?

@Mike Dorneman I might be misunderstanding but can't you brrrr with cash out refinancing just as well as HELOCs, especially if you can find a place without seasoning that will cash out on the ARV?

Hi, introducing myself, have lurked for awhile and in education phase of real estate investing.

I'm a millennial from mid Michigan whose finally starting to see light after student loan debt and looking to learn and develop as much as I can.

Always interested in meeting new people in this market or from wherever to bounce ideas with

Cheers

@David Rudaitis I'm still really early but I have met a few, are there any tricks to determine agent quality or is arv simple enough that it doesn't much matter?

Perfect, thanks

@Gary Guidi sorry for the new guy question, still in learning phase.

Are there any situations, outside of anomalies, that a bank won't refinanance with you a bit down the line?

Is there a method to accurately predict arv accurately without having to leverage your own years of experience?

I'm new and want to avoid as many missteps as possible