All Forum Posts by: Cameron Davis

 Would love to hear how it's going!

I am very impressed that the seller bought back the property. I have bought properties that I personally have not seen, but I always have somebody there to check that everything is okay at closing. You have to have a realtor, property manager, or somebody that you can trust on your side.

Wells Fargo will NOT do a HELOC if you have more than 4 investment properties... even if you own them all free and clear! (no mortgages on them!) I wasted hours with them, and got my credit dinged because at first they told me they could do it. Plus, they are a horrible company... they are continually being sued and fined by the government. I'm going through PenFed now.

I don't understand why you would get 1 loan to pay off another loan. David is correct with his earlier post. And yes, using a HELOC to leverage cash to buy additional properties can be a good strategy, as Douglas said.

Wells Fargo will NOT do a HELOC if you have 4 or more investment properties... even if you own them all free and clear! ... no mortgages on them! I wasted hours with them. Plus, they are a horrible company... they are continually sued and fined by the government.