Getting a HELOC on Investment Property Just Got WAY Easier…

Рет қаралды 58,105

Күн бұрын

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Need a HELOC on investment property? Well, you’re in luck. Getting a HELOC on rental property was basically impossible not too long ago, but recently, banks have been allowing investors to use the massive amounts of equity they have to improve their properties, buy new ones, or invest another way. And now, a big lending change allows investors to take out HELOCs (home equity lines of credit) on even BIGGER properties!
But that’s not all! On this Mortgage Monday, we’ll discuss new home equity loans, interest rate updates, and how YOU can use your home equity to build wealth faster. So, take a look at your portfolio because if you have a home or multifamily with equity just sitting there, it could be put toward MUCH better use!
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Check Out Another Mortgage Monday Video:
• Mortgage Monday
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HELOCs for Rental Property Are BACK (Use Your Equity!):
• HELOCs for Rental Prop...
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How to Use a HELOC to Buy Real Estate:
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HELOC vs Home Equity Loan: Pros & Cons For Investors:
www.biggerpockets.com/blog/he...
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00:00 Have Home Equity?
00:57 Sponsor: Monetary Metals!
01:53 HELOCs Explained
04:24 Multifamily HELOCs Now Available!
07:16 Today's Interest Rates
08:02 The New Home Equity "Loan"
08:50 Who Should Use a HELOC?
11:58 Work with Christian and David!

Пікірлер: 86

@nickc3856 7 ай бұрын

This is just an ad

@WindermereAnacortes 7 ай бұрын

Yes, a good one though. Nice to know the product is available and how it works. Glad I listened.

@levertis1987 7 ай бұрын

This was a amazing video loved the tips and info

@5678seth 6 ай бұрын

This whole channel is an ad.

@rustbeltinvestor 7 ай бұрын

I can personally attest to how difficult it was for us to get our heloc from an investment property… called dozens and only one bank at the time would work with us… this is really exciting guys, no red tape and everyone’s expectations are made clear, thanks for presenting this to us!

@jorgesalazar818 7 ай бұрын

PenFed Credit Union did a HELOC on my investment property.

@chanceenterprises7816 7 ай бұрын

Do you mind sharing that bank?

@KerryBuysHouses 5 ай бұрын

@@chanceenterprises7816 they stopped doing HELOCs on investment property. Navy Federal does them still.

@cars58230 Ай бұрын

@@jorgesalazar818😊😊😊😊😊😊😊😊

@jamesnewell6805 7 ай бұрын

Great info!! Thanks David!!!

@DanKohan 7 ай бұрын

I'm into real estate and your info on HELOCs was super helpful. Keep the great content coming!

@AdventureEncounters 7 ай бұрын

Thanks for the information!

@TJ-th9hw 7 ай бұрын

Another GEM to the BP community! Thanks

@mukundsalekar6712 5 ай бұрын

Thanks for the info. Didn't know Helocs were offered on rentals properties.

@mravsolody 7 ай бұрын

Nice, appreciate the HELOC product on duplex investment properties

@graylingjones1092 7 ай бұрын

Good information

@danielsingh9701 7 ай бұрын

Great info

@tomallen3906 7 ай бұрын

The beard the mic hold my bro!!! Coming in powerful!!! 💪

@yourpersonalagent7243 7 ай бұрын

I just want to confirm that since we’re able to now obtain these HELOCs on our investment properties that they can be obtained through our LLCs?

@InvestWithFFI 7 ай бұрын

This is my question as well. He mentioned something showing on your credit report tho.

@milesfabishak2354 4 ай бұрын

Hi love the video by the way! Thanks for sharing that exciting news. I would like to purchase a duplex toward the end of this year. I currently live in a duplex that I own and would like to use a heloc to fund the downpayment for my next one. It will be owner occupied. Is that possible since it's not my "primary residence" anymore? Or should I get a heloc on my primary, wait a few months and then pull the trigger?

@pandamama4094 7 ай бұрын

Thank you. For the investment heloc, is it DTI based or assed based?

@josephkibler8131 7 ай бұрын

David, you are going to give Steven Colbert a run for his money money with your preludes. You’re going in the style of the “meanwhile” prelude. Love it!

@rosaliedipietro1319 7 ай бұрын

This is great news!

@mariorichardson1603 7 ай бұрын

I called your company and was told you do loans only.

@CascadeLivingbyScottSpiker 7 ай бұрын

Maybe you guys could get granular on the difference between an interest only loan vs something amortized and how different payments over time would be to total money repaid.

@yoelfriedman4157 7 ай бұрын

Reached out. They don't service helocs to NY.😔

@PaulVang 7 ай бұрын

Where do I go to get more info. Is there a website?

@reynesanna 7 ай бұрын

is the interest on this in property heloc simple or compound?

@Whatever0704 7 ай бұрын

I have seen bank making statements that they are NOT doing any HELOC for now

@KerryBuysHouses 5 ай бұрын

So use a different lender.

@patrickalexis6230 7 ай бұрын

On your credit report? Hopefully an investor can borrow against the LLC and not have the HELOC show up on the personal credit report.

@MrPeterschmit 7 ай бұрын

Would it be less intrusive to get a heloc than a refi ?

@jacobcapeles2870 7 ай бұрын

I'm here for the he-lp

@RealEstateEntrepreneur 7 ай бұрын

This concept is nothing new to me. Investors have been doing this all my life.

@muzzer3726 7 ай бұрын

Interest rates up so high. No more profit.

@michaelk906 6 ай бұрын

Can you do this Heloc in San Juan , Puerto Rico

@5678seth 6 ай бұрын

Just got ahold of them today and they said they only do single family one unit that is Debt to income-based.

@5678seth 6 ай бұрын

So basically all BS.

@yournursingneighbor 7 ай бұрын

😂 How long did you practice that intro????

@Omoloya1 7 ай бұрын

3rd mortgage on a property with a 2nd mortgage/FTHB grant w/residency term?

@Josh-ii1eq 7 ай бұрын

What if your mortgage is paid off and just wanna pull a line out. Would it be a lower rate?

@deandremason2457 7 ай бұрын

Listen to the video or go back and understand what a heloc is. Simply put, yes you can. Probably won’t be a lower rate cause it’s a heloc it’s “riskier” and lenders want a bigger return

@FIRE_DrNinjaTurtle 7 ай бұрын

What is the minimum value of the property that you will loan on? That is always my issue. I have a lot of equity, but in lower value properties

@robwithrbk 7 ай бұрын

Your local CU can't help you?

@InvestWithFFI 7 ай бұрын

Same here. Baltimore-based investor.

@Iamceowil 7 ай бұрын

What about for down payment for investment property

@YourGuiltyConscience 2 ай бұрын

Following

@tarunpatel7074 7 ай бұрын

Can you use a HELOC from primary to purchase a duplex triplex quad all cash, then refinance the new property and pay back the HELOC? Is this advisable?

@FlyingSagittarius 7 ай бұрын

Yes, that's basically starting a BRRRR with a HELOC. More risky than starting it with cash, obviously, but less risky than holding onto a HELOC and servicing it for 30 years.

@kimvanloozenoord4683 7 ай бұрын

Have to hold property for 1 year b4 doing cash out refi

@bullmancake 7 ай бұрын

BP used to be a good source for investment ideas and help. Now it’s just advertising disguised as advice. Disappointing!

@scottc6946 7 ай бұрын

15% interest?! Might as well just use your credit card!

@pitohead77 7 ай бұрын

David is He-Man

@jorgenavarro3201 7 ай бұрын

I really far from acquiring this product. But really good explanatory video

@angelodelmonaco9328 7 ай бұрын

Can I get a heloc if my properties are under LLC’s?

@robwithrbk 7 ай бұрын

They do two grant deeds in residential lending to solve this problem. When you sign loan docs, escrow/title has a grant deed in front of you taking it out of the LLC and into your name, concurrently, their is another grant deed putting it back into the LLC. They get sent to the recorders office together. If you're looking for non-recourse, most resi lenders won't do that. They don't lend to LLC's very much. There are a lot of lenders that do what this video proposes but at much lower rates and almost no fees (2-4 units, not 5+ units).

@KerryBuysHouses 5 ай бұрын

@@robwithrbk in Florida where I have property, there are transfer taxes coming and going. So this would be a very expensive way to do the lending.

@valleystylez1 7 ай бұрын

Would a non-owners occupied rental duplex under an FHA apply for a HELOC?

@XoCobraOfficial 7 ай бұрын

That’s interesting I’d like to know too

@christianbachelder8608 7 ай бұрын

Yes!

@XoCobraOfficial 7 ай бұрын

@@christianbachelder8608 hey can you explain more on that?

@cavy95 7 ай бұрын

Call a lender

@johnnyb33good21 7 ай бұрын

How freaking perfect! I have 45 units in the Phoenix Metro of Arizona. The majority of my buildings are 4plex's that i house hacked since starting in 2017 with approximately 3 million in equity, I was just researching how to access HELOC'S without replacing my low mortgage rates. And thank you for the reminder that if your accessing HELOC'S that it's best used for short-term needs that you can pay back

@scottgarou1018 5 ай бұрын

This video is just an ad with no helpful info. Disappointed as I’m a fan of bigger pockets. Gotta be more careful now that I know they do stuff like this

@user-gy9ce6qs3g 7 ай бұрын

Hi David Green, Getting a HELOC even in a fully paid off home is very very hard. Banks refuse most times unless u hv this huge w2 income

@Dirtybay80 7 ай бұрын

Available in Texas?

@xprsurslf 6 ай бұрын

Interested to know this too since TX doesnt allow it unless in investment property is paid off

@markhope1998 6 ай бұрын

This is wrong. You are not licensed in my state. So it did NOT get easier.

@boatdrinks1 7 ай бұрын

Let's call it a RELOC

@JamesP29 7 ай бұрын

12 - 14%....

@onemicgroup 7 ай бұрын

He-Lmao😂

@jhaku5060 7 ай бұрын

In my opinion this should be the last resort for an investor or a person who owns a home. Shame on you big pockets this is very risky move.

@josephhefley9701 7 ай бұрын

They've been doing a lot of "rich people plays" lately that end up being horrible advice for anyone brand new or early in their journey lately. I'm just about to watch it so I don't have an opinion of this advert yet. Because this is an advertisement masked as a new video.

@DankoStojanovic 7 ай бұрын

Looks like it could be useful in some situations but I would not call it a piggy bank. Piggy bank is your money, you don't have to give it back and there are no big interest rates involved.

@mcanultymichelle 7 ай бұрын

👍😊

@freethemarkets 7 ай бұрын

Too he-much

@ChefRomeo1 5 ай бұрын

Hi 5

@Dreadwolf3155 7 ай бұрын

punny....

@jerryianjunior9736 7 ай бұрын

Let’s hehe 🔥🔥😂😂

@InfiniteEYE3 5 ай бұрын

This bullshit

@minnieT1978 6 ай бұрын

I just sold my house in Fl trying to buy house in GA i really dont want to use all my cash to buy a home. Is tuere aby how i can use Florida income to buy home in GA? ( we wont have job when we go to GA will find job after we settle there in GA)