Getting a home equity line of credit (HELOC) is one of the easiest ways to leverage your home equity and buy your first rental property. But what is the best way to use one? Are there any drawbacks? After today’s deep dive into HELOCs, you’ll have all the answers!
Welcome back to another Rookie Reply! In this episode, we’re not only looking at HELOCs but also comparing them to “evergreen loans” so that you can choose the right financing tool for you. Is bad credit preventing you from investing in real estate? You might have to get creative! Ashley and Tony offer several ways to invest while you’re fixing that credit score. Stick around until the end for the best value-adding home renovation projects that will help you raise rents!
If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).
In This Episode We Cover:
How to use a home equity line of credit to buy your first rental property
How to buy an investment property before fixing your credit
The BEST ways to invest in real estate with a small amount of cash
HELOCs vs. evergreen loans (and which one is right for YOU!)
Value-adding home renovation projects for your rental properties
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Ask Us Your Investing Question
Apply to Be a Guest on the “Real Estate Rookie” Podcast
The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals
How I’m HELOCing My Way to Wealth
Should I Fix My Credit Before Attempting to Invest in Real Estate?
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-362
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com
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284: Rookie Reply: What You Need to Know Before Buying Your First Rental
283: 19, Broke, and No Credit to 28 Units and Over $1 Million in Real Estate w/Caleb Hommel and Chuck Sotelo
282: Rookie Reply: Should I Switch Markets? (Why You're NOT Finding Deals)
281: Making $1,200/Month from ONE Rental After Bouncing Back from a BAD Deal w/Michael Yi
280: How to Buy a Rental Property with NO Money OR Credit w/Pace Morby
279: Making $71K on ONE DEAL After 5 Failed House Flips and Six-Figure Debt w/JP Desmet and Aaron Bihl
278: Rookie Reply: Finding Comps, Estimating Rehab Costs, and Filling Vacancies
277: Leaks, Surprise Rehabs, and the Reality of Buying Your First Rental Property w/Sara Plaisted
276: How to Get Into Commercial Real Estate Investing (For Beginners)
275: From $40K Debt to 4 Doors and Six-Figure Net Worth (In 1 Year!) w/Mike Larson
274: Rookie Reply: Inheriting Tenants, Getting Pre-Approved, and Raising Rent
273: Making $100K in 18 Months with “Misfit” Medium-Term Rentals w/David Rosenbeck
272: Rookie Reply: How to Get a DEEP DISCOUNT on Properties with Back Taxes
271: $900K in Real Estate at Age 17 by Doing What 99% of Teenagers Won't w/Ava Yuergens
270: Rookie Reply: Airbnb Arbitrage, Turnkey Rentals, and When to Use a HELOC
269: Rookie to Real Estate Investor: College Rentals, Airbnbs, & Plumbing Problems
268: Rookie Reply: Seller Financing, Squatters, and Is Becoming an Agent Worth It?
267: 24 Units in 2 Years by Making Your Rentals Match the Market w/Andrew Freed
266: Rookie Reply: Unpermitted Renovations, House Hack Profits, and Frozen Pipes
265: Making $90K/Year with Just ONE Rental by Combining Compassion and Cash Flow w/Devana Came & Reid Stadelman
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