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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Setting up some credit Posted by Alfred, Trainee -- Riv County on June 09, 2003 at 7:07 PM Hi Ward, Per the website pic it looks like you have a new grandchild. If so, Congrats! and I wish you and your family the best. Business oriented question... I considering doing a refi with HELOCs on my three foreclosure rentals. Replacing the 30 year fixeds with these variable rate HELOCs will bring my positive cash flow up from $430/month to almost $1,400 per month!! I'm very excited about that. I need to solve one problem... I wanted to refi my "balances only" for maximum positive cash flow, and use the remaining equity in the houses as business capital/credit for other real estate projects. BUT...I can only get a 75% LTV due to them being investment properties; and as a result that remaining equity will just be sitting there and I don't know how to be able to make use of it. (Eg. One of my properties has a FMV of 160K with a loan balance of 100K... a 75% LTV HELOC of 120K will easily allow me to pay off that 100K balance and give me an additional 20K in credit. Yet how can I somehow access the other 40K in equity that is sitting there as credit to use to make money in other real estate projects? What do you come up with when you put on your thinking cap? Thanks in advance. Best, Alfred Follow Ups: Re: Setting up some credit Jk 9:27 PM, 06/09/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Hi Ward, : Per the website pic it looks like you have a new grandchild. If so, Congrats! and I wish you and your family the best. : Business oriented question... : I considering doing a refi with HELOCs on my three foreclosure rentals. Replacing the 30 year fixeds with these variable rate HELOCs will bring my positive cash flow up from $430/month to almost $1,400 per month!! I'm very excited about that. : I need to solve one problem... I wanted to refi my "balances only" for maximum positive cash flow, and use the remaining equity in the houses as business capital/credit for other real estate projects. BUT...I can only get a 75% LTV due to them being investment properties; and as a result that remaining equity will just be sitting there and I don't know how to be able to make use of it. (Eg. One of my properties has a FMV of 160K with a loan balance of 100K... a 75% LTV HELOC of 120K will easily allow me to pay off that 100K balance and give me an additional 20K in credit. Yet how can I somehow access the other 40K in equity that is sitting there as credit to use to make money in other real estate projects? What do you come up with when you put on your thinking cap? Thanks in advance. Best, Alfred Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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