All Forum Posts by: Reece O.

Hello, Thank you both for the information. Sorry if I was vague. I do understand both use my property as collateral. What I meant is could I find a lender to take my property as collateral if I cannot get approved for the refi or HELOC? Does anyone know if they have the same income requirements? Thanks.

Hello, Welcome to BP! It's always nice to see more young investors with a craving for real estate.

Hello, I am not sure how much of this information will pertain to me. However, this is a great topic for all real estate agents. I may send the link to mine.

Hello, Yes, they will give you money. They will also deny you if they do not feel like they will get their money: regardless if you are 19 or 49. I highly suggest starting to build credit. If you have none you can try a secured credit card or a shared loan from your local credit union. Alternatively, find a creative way to finance your investment and you may not have to worry.

Hello, Is a HELOC easier or harder to get than a cash out refi? Are they the same? My credit is good. I am only worried about denial from my income. I have over 40% equity in my property. Assuming that I cannot get either of these, would it be possible for me to find a lender somewhere that would take my property as collateral? Thanks.

Hello, It is hard to give you advice without first knowing what your goals are from real estate. Also, you are only limited on deals with the amount of money you have if you aren't trying to creatively finance them. "How can I?" instead of "I can't from lack of money".

Hello, Welcome to Bigger Pockets! You are on the best community and social network for anyone interested in real estate investing. Feel free to PM me if you need any help. Don't be intimidated to ask about something you are unsure of on the forums. Remember, we all already have something in common... We literally want bigger pockets through REI!

Hello, Welcome to Bigger Pockets! You are on the best community and social network for anyone interested in real estate investing. Feel free to PM me if you need any help. Don't be intimidated to ask about something you are unsure of on the forums. Remember, we all already have something in common... We literally want bigger pockets through REI!

Hello, I don't believe you should go by only a credit check; but you definitely should never rent to a tenant without one.

Hello, I also recommend Robert Kiyosaki in the Rich Dad books. A new favorite of mine is The Richest Man in Babylon.