All Forum Posts by: Carson Bankord

I am looking to fund my 2nd rental property as well. I have plenty of equity in my primary residence so I figure that is an option. I contacted my primary residence lender, which is Rocket Mortgage and said that they do not do HELOC but would cash out refinance. I do not want to cash out refinance because. My overall interest rate in my home would be higher. I would like to keep my loan with Rocket Mortgage and get a separate equity loan from my primary residence. If that is not possible I am thinking transfer my 401k balance from my day job to my solo 401k and have my LLC borrow from it. Also, I guess it would be which source would have the better interest to get the cash-flow. By the way, what does STR stand for. I thought single family rental was SFR?

I would use a different lender and use a HELOC so you don't need to refinance and increase your rate. There's plenty of Banks out there that provide HELOCS. - STR is "Short-Term Rental"

good luck my friend!

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We're running into a snag on our financing for a STR condo and we might have to delay our closing. - I'm looking into approaching the sellers and see if they're interested in a seller financing agreement. Any advice on this ? Any resources that you could point me to?

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Thanks guys! This is helpful.

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Anyone have advice on structuring a loan from a family member/friend - to create a win-win scenario? Especially with someone who is not experienced with REI.

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Looking at properties in Destin, Marimar beach. This a good area for STR ?

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All Forum Posts by: Carson Bankord

Carson Bankord has started 3 posts and replied 5 times.

Post: Funding Our Second Deal

Post: Seller Financing help

Post: Destin a good place to invest in STR?

Post: Private Loan structure

Post: Destin a good place to invest in STR?