All Forum Posts by: Richard Miller

So, I got denied a HELOC twice and when I tried another bank, they stopped taking applications because of the virus/economy. Not sure where else I can apply for one. But I can do a cash out refi. I currently have 1 rental property and would like add to that. I feel as though there will be a time in the some what near future where home prices will go down. I would like to have some liquidity during that time so I can purchase something.

Should I do the cash out refi? or wait for HELOC be offered again? I just like the HELOC because you can always use it and it doesn't add to the mortgage.

Any ideas or advice would be great. 

Thank you!

Thank you, I was thinking there weren't too many others ways. I'm not familiar with  submeter.  if sub metered, would that bill each tenant accordingly? or just show how much electricity/water each tenant used?

I purchased my first investment a couple months ago. I found a single family home with a closed in car port that I have turned into an efficiency. Iv'e been thinking how I should rent out the property. Since there is only one water and one electric meter, should I include water and electric and set rent accordingly? I see in single family homes, people charge rent and the tenant pays for electric and maybe water. Just thinking about including electric, I feel like the tenant can just run up the bill like crazy. Looking for some ideas...Thanks for your help!