All Forum Posts by: Kiuny Perez
Kiuny Perez has started 3 posts and replied 14 times.
Post: Local Meet Ups in Tampa Bay
- Tampa, FL
- Posts 14
- Votes 5
Hello everyone,
I wanted to ask if there was any Local Meet ups in the Tampa FL area. I searched and saw a couple older posts, but I was hoping for a more updated list.
Thank you!
Post: Using a Heloc on a Rental Property
- Tampa, FL
- Posts 14
- Votes 5
Quote from @David Ramirez:
Hey Kiuny,
Off-market properties are the way to go. You are not going to find a good investment property in the MLS right now. Try contacting local wholesalers and tell them to add you to their buyer's list. Whenever they send you an off-market property, run your numbers and offer based on that.
I agree with @Dawn Brenengen. Use your heloc short term and when you are done renovating the property, refinance and get better interest rates.
Good Luck,
David
Thank you for the input, I actually spoke to a Wholesaler a few minutes after making this post. Everything is starting to seem much more achievable.
Post: Using a Heloc on a Rental Property
- Tampa, FL
- Posts 14
- Votes 5
Quote from @Dawn Brenengen:
I would not use it for long term financing, but if you want to use it to purchase, and then refinance the property into a conventional mortgage, I think it can be a good tool
Post: Using a Heloc on a Rental Property
- Tampa, FL
- Posts 14
- Votes 5
Hello Everyone,
My name is Kiuny, I've been living in Florida for about a year now but am originally from New Jersey. I'm getting ready so I can start investing in the Tampa/St. Pete area hopefully before the year ends. I'm currently reading David Greene's book on the BRRRR method, but with the market being so hot I'm looking at a Plan B in case I can't get a house for 75% of ARV all in.
Would using a heloc with an 8% interest rate be smart in the long run to buy a rental assuming it cash flows. My worry would be the interest of the mortgage and the interest of the heloc.
Thank you!