All Forum Posts by: Kevin DeMaio

I see! Awesome points! Interesting that you did both HELOC and cash out refinance on your home.

@Karl McGarvey that’s not too long of a wait and that’s not a bad idea to wait it out a little bit with the whole eviction thing looming. But also, purchasing a rental wouldn’t be bad either. Because most likely a new tenant moving in would have cash and a job to move in with. I feel it would be a low chance of someone moving in and then try not to pay. The screening processes for the tenants might have to be a little tighter.

@Karl McGarvey Without the car payment and the money you set aside monthly, how long until you save the $12k and are you willing to wait that long to invest into another property.

I think it depends on how well you can budget your income. If you "splurge" or "treat yo self" often you might want to keep the payment, not pay off the vehicle and get another rental.

What would my fellow BPers use to get started off on their first BRRRR. Using a primary residence, would you cash out refi or use a home equity line of credit and why? What would the personal pros and cons be for both options?

@Curt Davis

Would you be able to take out more than 1 conventional loan?

@Curt Davis thank you Curt, you answered some questions I have and haven’t asked!🙌🏼

I'm beginning my real estate investing journey and I'm wondering which loan would be better to begin with? A FHA loan or Conventional loan? What are the pros and cons of each loan