All Forum Posts by: Joseph Catalano

We have used our HELOC to purchase three small apartment units. We only used the HELOC for the down and financed the rest. But you have to take that into consideration when running your numbers. You are financing the property 100%. So your income will be less.

We love this strategy.  We will continue to use it.  In fact we are purchasing a Mobile Home Park with this strategy.

@Michael Rodriguez.  What size multi are you looking for?  I am in the area and a have friends with property.

Begin with an LLC from the start. I is a great way to protect yourself and deal with tax issues.

@Redgy Saint-Germain find a new one.

That apartment will require hardwood.  I would used a hand scraped version because of the durability.

I agree totally with @Andrew Johnson.  House Hacking is the way to go.  I wish I had done that years ago.

Having been there, 30 day notice all the way.  A tenant like that will make life very difficult for any tenant you put in the other unit.

Try an owner financing approach.

@Michaela Chaidez that is not a great neighborhood.  Near the Lovejoy district which is a high crime area.  Be careful in that area.

Our compay has purchased 4 properties using a HELOC as the downpayment on all. We have none of our own money in the properties. In the short term it will reduce your overall income but once you refi out you are golden. We love this method! The bank does not care where the downpayment comes from.