All Forum Posts by: Robert Rappold

Thanks I will give them a try!

Hi,

Does anyone have a bank they would recommend for getting a HELOC on a rental? I would like to get 2 HELOCs on 2 different rentals that I own free and clear. Huntington Bank use to allow 2 rental HELOCs for the same person, but have since stopped offering that option.

Thanks in advance,

Rob

I wasn't clear in my previous messages, it really is the vacant lot I want. I am not concerned about the money. I only want to take this on if there is a solid chance of getting the seller to sell the vacant lot we had the contract for. It is an extrmely rare lot. The investor side of me agrees in totality with all said about time vs reward and good money at bad.  I am on the other side of the equation with being attached and wanting them to perform as promised and sell the property. I was hoping to tap into some investor knowledge with enforcing a contract via arbitration or trial. Unfortunately any amount of time will be worth it and anything in the ballpark of 10k would be reasonable to spend to get the lot. Thanks again for the thoughts and wisdom. 

Thanks for the thaughts, but actually It wasnt a low ball offer.  Definitely fair market value.  A contract that is fully executable should not be waivable after being signed, else why sign a contract. Contracts in real estate would be pointless if either side can walk away without having some accountability.  

Ryan typically I would agree if this wasnt so unique. Lake front 1/2 acre lot for my own personal house. It was a rare find.  Not to mention principal of the matter. Seller had no reason to back out. 

Thanks,

Rob

Hello, Does anyone have experience enforcing a PA via arbitration or law suit for specific performance? Wondering if arbitration is the way to go? Seller backed out of the deal last minute leaving me high and dry after several hundreds of dollars and time invested. Any advice or experience you can share would be appreciated. Thanks in advance, Rob

Great topic! Did you ever get some answers to your questions?