Today’s first caller has a HELOC and he wants to use his equity wisely to grow his real estate portfolio. What’s the best way to leverage those funds to buy multiple investments, instead of just one or two? That’s the first question I’m answering on this Q&A edition of Investing in Real Estate!
This episode features three great listener questions on leveraging funds to maximize your growth, finding the right banking products to reach your goals, and how to get started investing with a low income. Thank you for your thoughtful questions, and I hope you enjoy this episode.
On this episode you’ll learn:
- How to leverage a HELOC to buy multiple properties
- Tips for finding banking products.
- How to get started in real estate with small income.
How to Leverage a HELOC to Buy Multiple Properties
In this scenario, my first instinct would be to use the HELOC as down payments on multiple rental properties. Of course, you’ll want to run the numbers and make sure it makes sense financially, but I think if this can be done. You could begin shopping around for properties in your local market—or if you’re interested in a done-for-you approach, we’d love to help. You can schedule a free call on our website, and we’d be happy to talk to you about how to reach this goal.
Tips for Finding Banking Products
Just because one, two, or three lenders tell you no, that doesn’t mean you should give up. There are endless financing options available out there. If your state prohibits you from getting HELOC, you might not get the exact product you’re looking for, but you can still find a loan that works for you. I wouldn’t recommend refinancing your mortgage, because you’d end up with higher interest rates and a slew of closing costs. Find a different banking product that works for you by consulting with local banks, searching on LendingTree, or reaching out to Dan Kraus at Churchill Mortgage.
How to Get Started in Real Estate with a Small Income
No matter what your barrier is, there’s always a way to get started. Some of the most successful investors I know started with no money. Here are a few resources I would suggest for getting the ball rolling:
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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