All Forum Posts by: Ganessan P.

Oh. got it . Thanks @Bill Crow . Great piece of information.

Looking for an attractive and competitive interest rates for commercial real estate loans in TX. Any recommendations ? Please let me know i will DM you. 

Thanks ! Appreciate your guidance.

i would recommend planting few trees  and may be Palm trees too. It would be worth in long-term and trees add tiny equity to your property without much of work from the landlord.

HELOC does not need to come from the same lender, strongly recommend to call the local credit unions and local banks. Some banks also provide promotional rates and no closing costs. I have come across HSBC also provides it. You need to google and make lot of calls.

@Cory Yancy - I would pull the equity on my primary by applying HELOC ( there are banks and CU which provides free closing costs and promotional rates for the first 9-12 months), and use this to kick-in the process and play it by ears as you go. As you go to next deal, try to pull out the equity from the investment property and buy the next one.

@Jim Bailey

Hi Jim - I have recently from one of the BP podcast that an investor from Seattle has done rent by "bedroom" and "fully furnished". It is month-month, and you can label the tenant names in the refrigerator and find a housekeeping person to clean the home daily. Just a food for thought.

@Will Fraser There are 3 options which i know..

1. Zillow Rental Manager but it would take 7 days for the rent to be deposited in your bank account
2. Zelle
3. Tenant can do same day wiring for $0 if they have premium checking account in their bank.

Hi @Amit Parekh - I would try the followings.

1. Call the local credit unions/banks
2. Call HSBC, they do HELOC for investment properties in non-TX states
3. Some of the big nation banks, they do provide it. You have to make lot of research and make lot of calls. Start with local CU, HSBC.

I never able to get HELOC for investment properties in TX. The option i see is do an "All-In-One" product for investment property. It behaves like an HELOC, and i love the product and the interest rate is light higher than conventional. With COVID, they are doing 1 investment per borrower otherwise 4.

CMG or Ridge Lending Group are the 2 lenders who provides "All-In-One". 

You can also try zelle.