- This topic has 95 replies, 11 voices, and was last updated 16 years, 3 months ago by
NotCranky.
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May 28, 2008 at 12:07 PM #212955May 28, 2008 at 3:19 PM #213106
aldante
ParticipantIs this one of those strategies where you make it up on volume?
OMG…………..LOL………..
BTW the going rate for heloc is 4% with good credit…..you still may want to take the advice on here and look at your math….
aldante,
stick a fork in me
May 28, 2008 at 3:19 PM #213080aldante
ParticipantIs this one of those strategies where you make it up on volume?
OMG…………..LOL………..
BTW the going rate for heloc is 4% with good credit…..you still may want to take the advice on here and look at your math….
aldante,
stick a fork in me
May 28, 2008 at 3:19 PM #213136aldante
ParticipantIs this one of those strategies where you make it up on volume?
OMG…………..LOL………..
BTW the going rate for heloc is 4% with good credit…..you still may want to take the advice on here and look at your math….
aldante,
stick a fork in me
May 28, 2008 at 3:19 PM #213056aldante
ParticipantIs this one of those strategies where you make it up on volume?
OMG…………..LOL………..
BTW the going rate for heloc is 4% with good credit…..you still may want to take the advice on here and look at your math….
aldante,
stick a fork in me
May 28, 2008 at 3:19 PM #212981aldante
ParticipantIs this one of those strategies where you make it up on volume?
OMG…………..LOL………..
BTW the going rate for heloc is 4% with good credit…..you still may want to take the advice on here and look at your math….
aldante,
stick a fork in me
May 28, 2008 at 3:46 PM #213156NotCranky
ParticipantYou are actually borrowing money for more than the return you are getting on it just to have it in the bank and that is asinine IMHO.
It is not just to have it in the bank. It is so that it is in the bank to enable buying one or several properties at a huge discount instead or sitting on the sidelines while other people buy them up.
It is a strategy that can be played well. If he has strengths to back up this move, like he is good at speculating or rehabing properties and managing rentals or flipping ect. it could work out well for him. If the opportunity does not come up,or if his heloc rate goes up before he can make a good move, he gives the money back. Big deal.Helocs are not 4% when you can’t qualify for one and I think that is what Bobs was saying. His Heloc was at risk of getting pulled which probably means he wouldn’t get another one.
May 28, 2008 at 3:46 PM #213000NotCranky
ParticipantYou are actually borrowing money for more than the return you are getting on it just to have it in the bank and that is asinine IMHO.
It is not just to have it in the bank. It is so that it is in the bank to enable buying one or several properties at a huge discount instead or sitting on the sidelines while other people buy them up.
It is a strategy that can be played well. If he has strengths to back up this move, like he is good at speculating or rehabing properties and managing rentals or flipping ect. it could work out well for him. If the opportunity does not come up,or if his heloc rate goes up before he can make a good move, he gives the money back. Big deal.Helocs are not 4% when you can’t qualify for one and I think that is what Bobs was saying. His Heloc was at risk of getting pulled which probably means he wouldn’t get another one.
May 28, 2008 at 3:46 PM #213075NotCranky
ParticipantYou are actually borrowing money for more than the return you are getting on it just to have it in the bank and that is asinine IMHO.
It is not just to have it in the bank. It is so that it is in the bank to enable buying one or several properties at a huge discount instead or sitting on the sidelines while other people buy them up.
It is a strategy that can be played well. If he has strengths to back up this move, like he is good at speculating or rehabing properties and managing rentals or flipping ect. it could work out well for him. If the opportunity does not come up,or if his heloc rate goes up before he can make a good move, he gives the money back. Big deal.Helocs are not 4% when you can’t qualify for one and I think that is what Bobs was saying. His Heloc was at risk of getting pulled which probably means he wouldn’t get another one.
May 28, 2008 at 3:46 PM #213126NotCranky
ParticipantYou are actually borrowing money for more than the return you are getting on it just to have it in the bank and that is asinine IMHO.
It is not just to have it in the bank. It is so that it is in the bank to enable buying one or several properties at a huge discount instead or sitting on the sidelines while other people buy them up.
It is a strategy that can be played well. If he has strengths to back up this move, like he is good at speculating or rehabing properties and managing rentals or flipping ect. it could work out well for him. If the opportunity does not come up,or if his heloc rate goes up before he can make a good move, he gives the money back. Big deal.Helocs are not 4% when you can’t qualify for one and I think that is what Bobs was saying. His Heloc was at risk of getting pulled which probably means he wouldn’t get another one.
May 28, 2008 at 3:46 PM #213100NotCranky
ParticipantYou are actually borrowing money for more than the return you are getting on it just to have it in the bank and that is asinine IMHO.
It is not just to have it in the bank. It is so that it is in the bank to enable buying one or several properties at a huge discount instead or sitting on the sidelines while other people buy them up.
It is a strategy that can be played well. If he has strengths to back up this move, like he is good at speculating or rehabing properties and managing rentals or flipping ect. it could work out well for him. If the opportunity does not come up,or if his heloc rate goes up before he can make a good move, he gives the money back. Big deal.Helocs are not 4% when you can’t qualify for one and I think that is what Bobs was saying. His Heloc was at risk of getting pulled which probably means he wouldn’t get another one.
May 28, 2008 at 3:53 PM #213162(former)FormerSanDiegan
ParticipantIt is not just to have it in the bank. It is so that it is in the bank to enable buying one or several properties at a huge discount instead or sitting on the sidelines while other people buy them up.
This is a good point. It’s not like someone would borrow money at 6% and stash it in savings at 3% indefinitely. They should obviously have an exit strategy or a planned use of those funds in the future that will pay off.
May 28, 2008 at 3:53 PM #213132(former)FormerSanDiegan
ParticipantIt is not just to have it in the bank. It is so that it is in the bank to enable buying one or several properties at a huge discount instead or sitting on the sidelines while other people buy them up.
This is a good point. It’s not like someone would borrow money at 6% and stash it in savings at 3% indefinitely. They should obviously have an exit strategy or a planned use of those funds in the future that will pay off.
May 28, 2008 at 3:53 PM #213005(former)FormerSanDiegan
ParticipantIt is not just to have it in the bank. It is so that it is in the bank to enable buying one or several properties at a huge discount instead or sitting on the sidelines while other people buy them up.
This is a good point. It’s not like someone would borrow money at 6% and stash it in savings at 3% indefinitely. They should obviously have an exit strategy or a planned use of those funds in the future that will pay off.
May 28, 2008 at 3:53 PM #213105(former)FormerSanDiegan
ParticipantIt is not just to have it in the bank. It is so that it is in the bank to enable buying one or several properties at a huge discount instead or sitting on the sidelines while other people buy them up.
This is a good point. It’s not like someone would borrow money at 6% and stash it in savings at 3% indefinitely. They should obviously have an exit strategy or a planned use of those funds in the future that will pay off.
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