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
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298: How Tony Lost $100K on ONE Real Estate Deal (AVOID These Critical Mistakes)
297: Traveling the World Thanks to One $6,500/Month Rental Property w/Olivia Tati
296: Rookie Reply: Pre-Foreclosures and How to Cut Your Property Management Costs
295: $2 Million in Real Estate in 2 YEARS Thanks to This Strange Side Hustle w/Paul Lee
294: No Money for Real Estate? 2 Side Hustles You Can Use to Fund Your First Deal w/Ava Yuergens and Josh Janus
293: 6 Rental Properties in 15 Months (While Working 3 Jobs!) w/Brandon and Dani Tilson
292: Rookie Reply: The One Thing You Need to Pay $0 in Income Tax
291: Living for FREE at 22 and Planning to Retire by 30 with Rentals w/Ryan Hughes
290: Rookie Reply: Best HVACs, HELOCs, and Using Home Equity to Buy Rentals
289: $11,000/Month with One VERY Unique Rental Property w/Garrett Brown
288: Rookie Reply: Tenant Red Flags and BEST Investor-Friendly Loans
287: From 70 Hour/Week Burnout to Getting Paid to Buy Properties w/Danielle Daly
286: Rookie Reply: Real Estate "Travel Hacks" We Use to Score FREE Vacations
285: 3 Rentals (While in College!) and Turning a Horrific House into a Cash Cow
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
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