All Forum Posts by: Kyle Kline

Option 1: interest rate between 10-15% with a max of 18%. Provides an option to convert to a fixed rate, which will be higher than the typical rates. However, this is a larger banking company and I have heard it can be better to have a HELOC with a smaller, local bank.

Option 2: interest rate is prime +0 with a max of 25%. This is a smaller, local bank but otherwise all other aspects are almost identical to the larger bank. 

So essentially my decision is between a large bank with a lower max interest rate, or a smaller bank with a higher max interest rate. I am not sure how much value to place on the max interest rate and the “size” of the bank.

Hello,

I am hoping to gain some insight as to how best to organize funds for different uses and/or properties. More specifically, my questions would be:

What type of account(s) do I put the money I save for maintenance, vacancy, capital expenditures, etc. into?

Should I have a separate account for each of these categories or keep them all in one account?

Should I have separate accounts for each property?

Should I use the same bank for all of these accounts?

I appreciate any insight and advice anyone is able to provide!

Hello,

I am hoping to gain some advice in deciding between multiple HELOC options. I have researched several options through banks near me and am having difficultly knowing how decide which to choose. Any advice is welcome and appreciated! Thank you in advance.

Thank you all for your help and advice! I appreciate the different perspectives and can understand why this may not be the best partnership to enter into. 

Thank you very much!

Thanks for your input!

Hello,

I was wondering if anybody had any experience (good or bad) investing with family members. I am specifically thinking in terms of a partnership and/or private money lending situation, but am interested to hear any experience whatsoever! Thanks in advance.

Thank you all for your responses and insight. As I said, I recognize that my concerns are quite common and that Bigger Pockets offers many solutions to investing with low capital. However, I truly appreciate hearing directly from other individuals with experience and knowledge. Thank you all for sharing!

I appreciate your response! That all makes sense. If you don’t mind, I’d be curious as to your thoughts on the idea that it takes a long time to save up enough simply from a W2 job. I’m saving as much as I currently can and would be on pace for a decent down payment in about 10 years. This seems way too long to wait. I know this is most individuals’ issue and understand that there are other creative financing options, but I find myself stuck in an infinite loop of needing funds to invest so that I can raise more funds to invest. Hopefully this makes sense, and thank you!

Hello,

I am just starting out in real estate investing and am seeking advice on how to fund my first deal. I do not have much of my own capital to use to purchase a property and was recently given the advice to either utilize private money to purchase a property or do a few home flips to build my own capital.

Does anybody have any advice and/or experience starting out with either of these two methods? I appreciate any insight anyone is willing to share!