All Forum Posts by: Mark Puen

@James ONeal Hey james! I did get the HELOC but decided I should try and get a investment property. But I'm still on the hunt for one. It's been super competitive here. How about you? Have you purchased any REI's?

Can Anyone refer a reputable contractor in Long Beach MS?  Thanks in advance!

@Brent Coombs yes, absolutely for a property that qualifies for conventional lending. But I was wondering about Brrrr’s with a Rehab property. I should have been more clear on that. But thanks again for your input!

@Ryan Blake hey Ryan, I was reading your profile. So you are also a loan originator? Does your company work with out of state investors? Or is it primarily your area/location?

@Ryan Blake thank you Ryan!

I have a rookie question....

Can one use a HELOC for a down payment to acquire a REI? Coupled with a hard money loan to Brrrr the property?

Any implications using a HELOC toward a REI?

@Bernadeau C. I'm currently going through the process of obtaining a HELOC for the same purpose. I did not mention to the lender that it would be used for another property. I only stated it would be used for "home improvements". I'm completely new to RE investing so we will see if the application goes through. Currently my application has been sent to underwriting for review. So far so good. Will let you know the outcome.

I wanted to find out if anyone has heard of any new restrictions coming down the pike for cash out refi? I spoke briefly with a local lender and he said that it will much harder to do cash out refi’s in the near future. Predominately thru Freddie Mac and Fannie Mae. He didn’t give specifics.

Anyone else hear about this?

@Mathward Howard.

Thank you! I’m just getting started and learning as much as I can. Would be great to connect!

@Paradis Reed can you refer me to a GC in Hilo? I live in Pepeekeo. Hoping to find a RE investment property soon.