All Forum Posts by: Amul Sutaria

Wow thanks for sharing, this is great @Jerry DiJoseph

send info [email protected]

Thanks for the replies everyone.  I have to look into HELOCs other than my lender.  

Another question: If i am investing out of state, do i have to look at a lender in that state or can I look in my state, or anywhere? 

Hi BP'ers!

So I am looking at properties in the 70-90K range (in PA) that I want to buy and hold. Problem is, the family member that told me they would let me use their HELOC no longer wants to help.

OK, fine.  Time to get creative...

I have a primary residence that's worth about 450,000 (projected appraisal value) and I owe 327,000 on this property (mortgage).  

I spoke to a mortgage rep with the lender who i have a mortgage with, who told me if i cash out refinance on my primary residence, then i could pull out 22-26K.   I could use this for a down payment.    

Would this be a good way to go?   What other options do I have?  The rep told me they don't do HELOCs.  

Another concern is that if i cash out refinance, wouldn't that make my mortgage payments go up? I'm already stretched pretty thin over there...

Some guidance would be appreciated! 

CC: @David Ribardo 

Give us more numbers and comps. 

@Rafael Norat would love to collaborate with you! 

Link does not open for me 

@Evan Ventura how did this all end up? Let us know!

@Ken Dayal is this still available? 

Is this still available? @Michelle Ross