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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358: Rookie Reply: Loan Pre-Approvals & Picking an Out-of-State Investing Market
357: The $120K Investing Mistake YOU Can Avoid on Your Next Home Renovation w/Justin Noe & Nate Cherubini
356: 3 Steps to Start Investing in Real Estate + 2024 Mortgage Rate Predictions
355: $25K/Month from ONE Property Thanks to a $180K Discount & Creative Finance w/Dayna Hicks
354: How to Unlock Off-Market Real Estate Deals with This “Personalized Pitch” w/Brett Long
353: From Rehab to Real Estate Investor Making $71K/Year from ONE Rental w/Matt McDermott
352: Rookie Reply: Seller Financing & How to Buy MORE Real Estate on YOUR Terms
351: The BEST Rookie Investor Tips, Tricks, Hacks, and Advice of 2023
350: Rookie Reply: How to Start an LLC for Real Estate Investing
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348: How to Take Your Real Estate Business to the Next Level in 2024
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342: How to Buy Real Estate WITHOUT The Banks (Private Money Explained)
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340: Why Self-Storage Beats Rental Properties w/AJ Osborne
339: A Beginner’s Guide to the BRRRR Method (Buy, Rehab, Rent, Refinance, Repeat)
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