All Forum Posts by: Hillary Klumpp

BP Team,

I'm looking for an investor friendly agent in the Tuscaloosa, AL area. Please reach out to me if you're an all star agent. Experience with BRRRR investments is a plus.

Thanks,

Hillary 

Quote from @Mike K.:

Quote from @Hillary Klumpp:

Hello BP team,

I'm going to utilize a HELOC from my personal residence to fund investment properties. Can someone please provide advice as to where I should start my search for an institution to provide my HELOC? I have access to my local credit union and small regional bank as well.

Any advice would be appreciated.

Thanks,

Hillary 

Hillary I'm in the process of getting a HELOC. I talked to several lenders and Citizens Bank had the best terms - 8.15% with no origination fees. Many of the lenders quoted me over 9% with origination fees. Best of Luck.

 Mike,

That's great information!

Thank you for the feedback.

Hillary

Quote from @Nicholas L.:

@Hillary Klumpp

what experience do you have?

just asking to try to help, because (1) BRRRR is very tough right now, and (2) it sounds like you're going for 100% financing, which just makes it more expensive.

Hi Nicholas,
First off thank you for reaching out with the current market conditions that you're seeing.
I have flipped 3 properties thus far. (some years back)
The HELOC is mainly just for reserves, I have 300K in cash to bypass financing.
Honestly, I have not looked closely at any deals on the market yet.
What are you seeing that makes BRRRR tough right now? (high home prices, rehab cost, lower rent, interest rates, etc.)

Thanks,
Hillary

Quote from @Mekkel Blanchard:

Hi Hillary, I would call some of the local credit unions as well as one or two larger banks to get an idea of what everyone is offering for owner occupied HELOCs and what LTV (loan to value) each is given. I've heard lending on HElOCS has tightened up and right now lenders are only giving 80% LTV

 Mekkel,

I will check around as you recommend. The 80% LTV should be fine, I have plenty of equity in my property.

Thanks again,

Hillary

Thank you, Corby.

BRRRR is my exact strategy, thanks for the feedback.

Ko,

Thank you for the advice.

Hello BP team,

I'm going to utilize a HELOC from my personal residence to fund investment properties. Can someone please provide advice as to where I should start my search for an institution to provide my HELOC? I have access to my local credit union and small regional bank as well.

Any advice would be appreciated.

Thanks,

Hillary 

Hello,

I’m just getting back into the real estate market after a 20 break. I previously bought, rehabbed, and flipped. I’m now looking to buy, rehab, rent, refinance, repeat.

If you’re an agent, lender, or property manager please reach out to me if you’re interested in being part of the team.