All Forum Posts by: Christina Swaby

I have a rental property that has no mortgage in Indiana. Im interested in getting a HELOC on the property in my LLC name. Does this exist as a product? Anyone have a lender that would do that?

 Thank you! very helpful

I have pre-qualified someone that has a previous felony that is 7-8 years old. Otherwise they meet the requirements. My bro-in-law also has a previous felony but has turned his life around and I would totally rent to him. So I am kinda open to the option. What guidelines do you use in this scenario?

We rented our first property 2 years ago and financed it at 7.25% with the idea when rates came down we would refinance. At what rate would you consider it worth it to refinance? 

I'm looking for a software that makes it easy to upload and track expenses, income, etc. You know all the things for taxes, profit/losses. I've been rolling with trusty excel but as we get more houses Im interested in upgrading to something else.

HI Chad, I am in Houston. We use our HELCOC to fund our investment properties (purchase and rehab). Texas has some weird laws that don't allow all banks to have HELOC options. Local Texas only banks will be where you can find them. Ex, can't get one through Chase bank here, but went to our local Credit Union. We love the ability to move cash in and out of the heloc as needed. A 40K rehab doesn't sound too bad either. Good luck and hope it goes well for you!

a lot of people will poo poo this, but I also live in a market where cash flow is low, property taxes are high and properties are expensive (which is a relative term). We are currently investing 1000 miles away and doing our second flip there. The Long Distance Real Estate Investing book by Bigger Pockets is gold! I used the script in the book to find an agent, and contractors to work with. 

Where we invest we have family so we do visit a few times a year and can always have family go visit the property. If you do have a place like that it's something to consider. 

Hi Apryl! I totally get this. Im the dreamer (although well researched dreamer) and my husband is the risk-adverse. I try to speak his language. So when I first started, I literally made a spreadsheet of how investing in real estate was better for college planning than 529 plan. Mapped out the money long term. that peaked his interest and he agreed to let me get a rental property. I have found it takes one success to get him to see it. Now we are on our 3rd project. 

Good luck! 

This is my second time working with 2 guys on a house I am flipping. We have a good working relationship. I was curious if anyone has ever done anything like provide incentives or bonuses to your contractors for completing work early? This particular project is running late and now of course I'd like to get done faster. Im worried though that providing a such a thing would lead to hurried or sloppy work. Any thoughts?