All Forum Posts by: Chris Kimsey

@Bonnie Low thank you Bonnie. I will not give up hope yet then 😁

Has anyone had any luck getting a heloc or personal line of credit in this financial climate. My plan was to put some forced equity in to my personal residence and then get a heloc for some more deals. However I finished the reno right in the middle of covid.

My question is has any one else been able to get lines of credit through home town banks or credit unions. Because all the big banks just want to talk about a refinance and not lines of credit.

Thanks in advance

Hello,

As I have been listening to the bigger pockets podcasts lately there are two things I am picking up on. As a newbie concentrate on one real estate strategy on one type of property.

I have also been hearing the market is amazing and that now is the time to start a business. That way you can have the extra capital to invest even faster when the economy does turn.

My family of four and I just sold our house and bought a house hack that I am in the middle of remodeling. I changed jobs shortly after. It's a great W2 job that allows my wife to stay home with the kids. The job is good but doesn't give much in the way of extra income. We also just bought our first BRRRR deal through some creative financing and are in the middle of finding a great tenant.

All that being said should I really be thinking about trying to start a business? Or should I just be patient, network, and work on getting more BRRRR deals?

Sorry for the odd question but I would like to hear from people that may have started off in a similar situation.

Thanks in advance.

@Andrew Postell great insight thank you.

Trying to refinance my first rental property here in Houston Texas. I have called 10 different local banks and credit unions and found a couple that are willing to work with me after a 6 month seasoning.

Is that the best option I have at this point without building more rapport? Or do I just keep calling around?

Thanks in advance.