All Forum Posts by: Richelle T.

Steve Morris Steve H. This is scary stuff indeed!! Thanks for sharing so we can all learn to protect ourselves better.

I was debating the same, looking forward to additional replies. I am leaning towards many singles at the same price per door. Less tenant issues also with SFR because they are each stand alone.

@Account Closed 

You're blowing my mind! I didn't even know there was such a thing as a blanket line of credit. I love that idea. Now I have another question to add to my list when I call banks. Thanks!

Hi @Justin Boyd welcome to the site :-)

Stan Hill try RBFCU. They are in Austin and maybe San Antonio. They do 80% LTV on investment property and it doesn't have to be paid off. The rate is 2.75% variable. I'm considering doing one of these on a property I have in Austin. Richelle

Thanks @Bob E. and @Joshua Springer for the comments! I am thinking cash out now with this low fixed rate money then resort to HELOC closer to when rates rise in Q3 2015.

Taylor Reichert I like the idea of putting section 8 or selling it with owner financing. You can look up the section 8 rent amount at gosection8.com I'm looking at a house with a $13k asking price and had some of the same questions. Glad you posted!

Gregory Norman what does property radar do?

FABCO is what I plan to use. It's the same thing that the large complexes use

Hi everyone So I close on a property this Friday (yay!) and was thinking today about ways to refinance it. I will be paying cash. I have talked to a few banks and I have a few options: 1. Identify next property and use equity in this one to buy the next. I would then have one blanket loan for 2 properties and only one set of loan closing costs. 2. Refinance to a fixed rate and get cash out. I can still cash flow on a 10 year note up to 6%. Rates are looking to be about 4.3%. This would be at a local community bank so I may not even have to wait the full 6 months seasoning. They are willing to refi once leases are in place. Obviously getting my money out quickly sounds appealing. 3. HELOC. I like this idea because I wouldn't have to keep getting loans but the interest rate is higher - around 7% and the rate is variable. What do people prefer/find has worked best? Or should I just go with the lowest interest rate available regardless of flexibility? Thanks for any comments/suggestions.