All Forum Posts by: Jenni Salter

Hello, I am a new investor and looking to establish a team of people who are already working with out of state investors. I am hoping to connect with a experienced contractors, property managers and handymen. Thanks in advance.

That's my thinking. I can save thousands in interest and closing costs using HELOC money. Yes, it's risk borrowing from my personal home but there's some kind of risk involved with every form of borrowing. Thank you!

Yes, totally agree. Sounds like HELOC is the way to go. I guess I was questioning if there is a good reason NOT to use the HELOC if my strategy is BRRRR. I was reading this article about using leverage to build wealth and it made me question if using cash (in my case HELOC) makes sense. It's different because I would eventually be refinancing into a conventional mortgage so this doesn't really apply to my situation, right? https://learn.roofstock.com/bl...

I'm brand new, working on narrowing down a neighborhood to invest in. Everything has a risk I realize, but it would seem like the risk is less with a HELOC since the cost to carry it is much less. Yes, I agree, running the numbers correctly is important. We have a student in my mentorship that did not calculate properly and wasn't able to cash out on her BRRRR - ended up having to leave some money in the deal.

Hi everyone, I am getting ready to purchase my first BRRRR property. I have $250K in HELOC money. I've received advice that it always makes sense to use private/hard money over HELOC to buy properties. I am not really understanding why it's better though. I was told by my mentor to use the HELOC money as seed money to have in case I need it. What are your thoughts? I wanted to get various opinions before deciding the way to go about this. What are benefits of hard money? Maybe I'm missing something.