All Forum Posts by: Levi K.

Hello Mark T.,

Thank you for your input. I got my HELOC from SDCCU.

As an owner of property management businesses, what kind property do you have demand for and in what areas?

Regards,

Levi

Hello Ryan,

I am new to the real estate investing. Education is important. However, it should go together with actions and strong desire for a financial wealth.

1) I got my first investment thanks to my co-worker. I did let him know that I am into real estate investing and that I am looking for great deals and if he knows someone. Sure enough we had a deal.

2) Go to www.meetup.com and find Real Estate Investing clubs in your area and get to know people - networking.

Good luck,

Levi

Hello BP experts,

I hope you had great holidays.

I am facing the following situation:

I need to put 25% for my next investment. I have some savings in my bank. However, the rest of the down payment can come:

1) HELOC (need to wait 30 days for a new limit)

2) Rollover IRA (used to be 401k, after I left the old job, I have rolled the money to IRA and since then I don't contribute anything to the plan.)

My questions are:

A) Should I just withdraw the money from the IRA and pay the penalties and tax to IRS (one time deal).?

In any way the money are just sitting in the IRA in the mercy of the market)

OR

B) Should I return the money back to the IRA using my HELOC?

I know I can "withdraw money" from IRA and if the money are returned with 60 days - no penalties.

The only way I can return the money, is from HELOC (assuming the bank will increase my limit, since the my house went up in value since last time I did the paper work).

The problem that I have with this, is that HELOC I am paying interest and principal. This is like I have borrowed money from my IRA with interest and principal.

C) Any other ideas? Suggestions?

Regards,

Levi

Wow,

I am blown away by quick reply from the forum.

Thank you very much Lisa P, Minh L., and Aly L for your reply.

I will keep searching and just keep calling around.

Regards,

Levi

Hello All,

It is great feeling to join this forum.
Here is my situation and my questions:

Situation :

1) I bought an investment property (condo-1bd/1bt) using HELOC (prime + 1.25%) out of my residential property.
2) Since when my residential property went up in value.

Questions:

1) What do I need to do to increase my HELOC amount (since my residential property went up in values?

2) I want to refinance the investment property in order to have fix rate.

I want to take 15years fix rate mortgage.

The issue is that, there are less owner occupants compare to renters/investors in this condo complex. What are my options? (I don't want to use hard money lender at this time since I just starting and don't have the knowledge).

Regards,
Levi