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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255: How to (Legally) Avoid Taxes by Investing in Real Estate w/Amanda Han
254: Rookie Reply: Can You Put Offers on Multiple Houses? w/Jake Kain
253: How to Build Your Financial Foundation BEFORE Investing in Real Estate w/Malia Gudenkauf
252.5: How to Buy Your First Rental Property in 11 Steps
252: Rookie Reply: Tenant Not Paying Rent? Here’s What to Do w/Alexandra Burnham
251: Rookie to Real Estate Investor in 90 Days: LIVE Mentorship Calls
250: Rookie Reply: 2023 Risks, The True Cost of Owning Rentals, and Live Q&A w/Pace Morby & Jamil Damji
249: Simple Steps to Start, Scale, and Grow a Real Estate Business in 2023
248: Rookie Reply: Do You NEED an LLC for Rental Property?
247: From $40K in Debt to 4 Properties and How to Snag a Low Mortgage Rate in 2023 w/Lindsey Iskierka
246: Rookie Reply: The 3 Signs of a Perfect Rental Property Market
245: Escaping the “Grind" through Van Life and Cross-Country Investing w/Tony Clark
244: Rookie Reply: How to Estimate Rehab Costs and Where to Find the Right CPA
243: The Short-Term Rental Cheat Code for More Bookings and Fewer Fees in 2023 w/Mark Simpson
242: Rookie Reply: How to Get a Better Price on That Off-Market Property
241: From Line Cook to Long-Term Investor with 32 Wholesale Deals w/Sahleem Lee
240: Rookie Reply: How to Get a Better Price on That Off-Market Property w/Ethan Wilson and Jamil Damji
239: The Rookie's Guide to 2023 Goal Setting: How to Achieve HUGE Goals This Year
238: Rookie Reply: Section 8 Investing and Which Cash Flow Markets Make Sense w/Ashley Hamilton
237: The Cash-Flowing Car Wash and Early Retirement Through Creative Real Estate w/Daniel Schiermeyer
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