All Forum Posts by: Steven Laux

Inspiring post, Johnny. Thank you.

Thank you Russel and Andrew, I appreciate the advice. 

Andrew, I was planning to open the HELOC with my local credit union (Coastal Credit), and eventually use them for the mortgage as well. I've never banked with a credit union before but they are highly rated in the area.

Hi,

I have a vacation rental property undergoing a post-hurricane rehab. I'm currently self-funding as much as possible while my insurance claim languishes in underwriting hell. I am interested in getting a HELOC against my primary residence to help with the current rehab, and to help with rehabs on future properties. My question is this:

Will having a HELOC hurt my chances of getting a conventional loan on a future flip? My plan is to have a $0 balance on the HELOC before applying for a conventional loan.

Any advice would be greatly appreciated.

Thanks,

Steve

Congrats Josh!

I attended my first meetup in Raleigh in November. I look forward to meeting you at a future meetup and hearing more about your deal.

Thank you for the recommendation, Yonah. I will reach out to Brandon this week.

After reading "The Book on Tax Strategies for the Savvy Real Estate Investor," I've come to the realization that our current CPA isn't cutting it. 

I'm looking for a tax advisor who has solid knowledge of the real estate investing field and the tax strategies associated with it. If you know of anyone in the Raleigh/Cary NC area with this type of experience, please let me know. Your recommendation would be greatly appreciated.

Thank you and Happy New Year!

Steve

I had a good time and met some very nice people at this meeting, which was my first real estate investment event. I will definitely attend in the future.