All Forum Posts by: Christian Friend

Following!

@Josh Weber Sometimes I can't decide if my parents love me or hate me! It is my real name haha. Maybe we should connect and share what we know about the area, thoughts?

Hey there! Out of state military family looking to invest back home (or at least one state over!)

Lawton is an intriguing market to me because it has a military base, Goodyear factory, and a university.

I'm specifically interested in some long distance BRRRRs, but may also be interested in multifamily and singlefamilly. 

How is the rental market? Any extreme problem with vacancy?

Can anyone recommend an agent or lender?

Crime seems a little high, anyone have any recommendations on how to avoid that?

I appreciate your time and thanks in advance!

Hey all, got a question about HELOC vs home equity loans.

Lets say I want to buy and investment property that is $30,000. (For this lets assume it will cash flow, etc) The down payment for this property lets say is $6,000.

Lets say I own a home worth ~475,000 and I owe ~445,000 on the mortgage. Would I be able to borrow against my current home to fund the $6k down payment? 

Lets say it was determined the property need $10,000 in repairs for a total of $40,000. If I didn't have or didn't want to spend the cash, could I borrow $8k against my house? Would a seller consider that a down payment?

Finally, what is the difference between a HELOC and the home equity loan? I am having trouble sorting that out.