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Congratulations And Awesome Achievement, We Are Awaiting For The Investment Break Down, And Heloc Amount Used Video. Jay This Can Become A Series, Let's Go. 🫡

Can you use a helic to pay iff car loan

I went to my credit union tonask about a HELOC, they looked at me like i was crazy and asked "whats a heloc"

How much you paying on taxes? Are you paying short term gains

This makes so much sense🤯! Thank you✅

You guys did a great job.

It sounds like a HELOC might be the right move for my wife and I. We own a home, but we had to move out of state for work, and we're renting it in the meantime. Unfortunately, being out of state landlords isn't something we enjoy - especially as it was meant to be lived in - so we want to sell it. We considered fixing it and handing it to a property management company, but there are too many problems, and we simply don't have the cash for it. There are raccoons in the attic, some trees too close to structures that have the potential to affect the foundation, leaks in the garage roof, and the house roof itself is due to be replaced. It's also a 3:1, and we'd love to add a half bath, as most houses in our neighborhood - based on Zillow - are at least 1.5 baths. And there's no garbage disposal. We're thinking of letting the new buyer replace the roof, as it should last another couple of years *knock on wood*, and instead, focusing on the really major problem areas. We have already done a lot of DIY aesthetic work. At this point, we're considering this a flip. The money is really meant to bring the house up to a certain standard that will get us a sale quickly - within 2-4 months. It's not for aesthetic purposes or vanity. The previous owner simply didn't maintain the home whatsoever, and we're tired of dealing with it. By the way, I see all of the replies you've left. I know it'll be hard when your channel grows even further, but I always appreciate the content creators who care enough to engage with the comments section, whether you reply to this one or not.

Hey Jay, Thanks for the content. Does a heloc report as part of your credit utilization when you draw?

Beautiful houses. The black counter is a really strong contrast. Why Samsung appliances? Was it a budget concern? The brick work is beautiful. Oh and FIRST!!!! Bathroom tile is a bit much. A but too busy. Unless it’s an East coast thing. And the windows. They give a wonderful character to the property.

Yuge yuge investment right here

Okay but I don’t have cash to update my home…

650 is not bad credit

Great video as always!

I am loan officer and I do Residential and HELOC loans. I am so happy my clients are turning the tables around with the opportunities they had. But you really need to know how to use it. I know there is so much hate about the loans. But, in nutshell, if you know what you are doing then loans are the great vehicle to reach your financial goal. My father was a banker for 38 years . All I can say is he had various loans thru out his life. Now he live very comfortably in his retirement life with my mom independently after paying for all three kids for Masters degrees and three marriages.

I want to renovate my home and rent it out and buy another. Should I do a HELOC?

Awesome Educational Content 🫡, Keep This Educational Content Streaming. 🫡

Having equity in your house is not waste

a significant decline in home values could cause your lender to reduce your line or freeze it - as some homeowners learned during the Great Recession.

Rental unit needs structural help at the front porch/balcony. 90% demo and then rebuild. Only have half the amount needed to fund the project but that is kind of out safety net fund. Bottom unit covers mortgage.. 30-40% of upper unit rent would cover HELOC monthly payments.. would you recommend heloc?

Could you get a HELOC for co-op apartment

Hey! Question- I want to apply for a heloc. Both my finance and I are on the mortgage and deed. I have better credit and we’re more likely to get it with just myself on the heloc. He knows this and is okay with it. does he have to be on the heloc from the lenders stand point?

What about if I own a residential rental property(triplex) no mortgage, okay credit, and am only looking for just enough to get the roof replaced probably $15-$20k nothing more just the roof. Property is around $620k . Would this be the route to go.

Hey Jay, I own my rental property free and clear and looking to invest the equity n real estate. The only bank I’ve found n my area of NC is my state employees credit union , who only offers up to 65% of the value. What’s better n this situation, a HELOC or conventional mortgage? Thx for your content, huge FAN!!!

Great video! Very informative!

Could you still take a HELOC if you don’t have a mortgage anymore.

Good Educational Content

Is there a lender that would approve an applicant with great credit score buy 50 percent debt to income ratio?

Great stuff Jay 🤙🏼 Make more of this step by step content it's so helpful! Been understanding a lot of the concepts thanks to your videos but boots on the ground stuff like this is next level. 🚀

Can you get a heloc with bad credit if someone with good credit co sign?

Thank you for a very informative session on HELOCs. I am at the beginning process and thought you did a great job providing the important information in a direct manner.

I didn’t achieve financial freedom until I turned 40. As a US citizen, I raised capital by taking out a home equity loan. The interest rate was much lower than other loans, which made it a smart choice. With patience and discipline, I reinvested my earnings and avoided impulsive decisions. This strategy helped me grow my wealth, eventually allowing me to buy a new home and a car. If you’re looking to raise capital and achieve financial freedom, consider this approach

I didn’t achieve financial freedom until I turned 40. As a US citizen, I raised capital by taking out a home equity loan. The interest rate was much lower than other loans, which made it a smart choice. With patience and discipline, I reinvested my earnings and avoided impulsive decisions. This strategy helped me grow my wealth, eventually allowing me to buy a new home and a car. If you’re looking to raise capital and achieve financial freedom, consider this approach.

Do animals pay rent pay for food or pay to travel? Do they need papers to travel their migratory path. Why do humans why not coexist. If you eliminate money life is a barter system give and take. My personal thoughts on the matter.

Hey Jay , very good video . I can do better editing in your videos which can help you to get more engagement in your videos . Pls lmk what do you think ?

Hey Jay, Hoping you see this! When using a heloc to purchase a fix and flip, is it smarter to borrow the minimum amount to secure the house, or borrow the amount needed to pay for the house out right? When it sells, you would pay off either the mortage on the property you bought, or the heloc! Whats your thoughts? Thank you

Why are you comparing mortgages to 2nd lien HELOCs instead of 1st lien HELOCs? The risks on 1st liens are less risky than that of a 30 year mortgage, which was proven in the housing crisis in 2008.

Good Educational Content 🫡

My plan is to do this maybe in less than two years time. Depending on the bank your trying to get a HELLOC from like say NavyFederal, they are harder in my opinion to get approved. I did try to get one once before like three years ago with my soon to be Ex -Wifie and they didn't approve of it based on my credit ratings, i barely made the ITD ratio but the final was my score was few points below there minimum. The only reason i tried with them was they have a really good benefits, up to 95% LTV on your equity borrowed, 20/20 draw periods and the Platinum Credit Card as well.

HELOC= Great way to create more debt for yourself!!!😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂

Not enough people are talking about this, and I’m convinced this is why people are still able to spend. I work for a national home builder and we’re selling $300k homes for $500k. I sold my home last year and am currently renting.

Dave Ramsey is good for certain things not everything

How often do rates on HELOCs change? How high/low have you seen them go recently?

Should i use a mortgage company for a Heloc

Inquiries have a negative impact on your score and they last years

Such a great video! Very informative 😀

Hello, Jay question do you work with different lenders that provide HELOCs, Cash-Out finance, and commercial refinance?

Learned stuff. Glad I came across your channel. Thanks

Great insights!