All Forum Posts by: Manuel Rocha

I applied to this HELOC offer at Andrews Federal Credit Union:

Home Equity Line of Credit

Choose a Home Equity Line of Credit for greater flexibility with easy access to funds on an ongoing basis. Qualify today and enjoy:

• Introductory rate of 1.90% APR for the first 6 months
• Variable rates as low as 3.75% APR after the introductory period
• Borrow up to 95% of your home’s value
• Interest-only payments during the draw period (minimum of $10,000)
• Credit Lines $10,000 - $350,000

The offer looks good but the process is slow and painful.

We have two rental properties (One on my wife name and one on my name) in South Florida.

We are considering to start a company to manage our own properties, this way take advantage to the TAX deductions and goverment incentives usually available only to small business.

Is this a bad idea?

I appreciate your feedback on this.