All Forum Posts by: Daniel Kim

Hi Megan, welcome! I live in Southern California but am in escrow on a rowhouse in Baltimore City. My real estate agent is @Jason_Kim. He's been great. Hope you find a good meetup, there's also the "Baltimore Investors Network" group on Facebook.

I have no construction experience but I have the same issue in the large two bedroom home I currently live in. In terms of renter preferences I would say that a family would definitely prefer a three bedroom to a two bedroom. In fact I notice in the newer built homes in my area that the entry floor living area is tiny (forget about family room) and most of the living space is upstairs in the bedrooms so I would assume that families are content to congregate in the kitchen as opposed to a large living room. If I had the choice I would add a third bedroom to my property but the additional rent I would be able to charge would need to justify the costs.

I have used HELOC's off of one property to buy the next one about three times. They were always interest-only, if not my high DTI would have never gotten me approved for another mortgage.

I just got a HELOC on a rental property (nowhere near fully paid off) from Penfed. They do have a restriction on how many total properties you can own, but all in all it was a painless process.

My Cleveland contact is @Jared Smith. Best wishes on your trip!

@Jared Smith 

I am an out-of-state investor as well and my Cleveland contact is @Jared Smith, Cleveland native and realtor.

Ohh fear believe me I’ve been there... hit up @JaredSmith... Cleveland native and best realtor out there

@Ryan Iskierka Hope it works out for you. The application on their website and the docs they required were pretty straightforward. I just wanted to tap into my equity since I feel like we are at a peak right now.

@Kyle Tipton To be honest when I applied online they just assigned me to someone (their HELOC department is out in Omaha). To this day I don't even know what she looks like lol... Also I found it kind of odd that you can't even email your loan officer directly - there is just a general email to the Equity Processing Department. In the end though I guess it was cool because my loan officer went on vacation the week my HELOC was supposed to be funded but everything still ended smoothly. Let me know if you still want her info though.