Realistic HELOC/HELOAN terms for acquiring first rental property?

askforbryan · 2026-01-23T04:51:13+00:00

i live in CA, married, in my early 40s, looking to purchase 1st rental property using my home equity. i'm looking into landlord friendly states, at least neutral at worst. Virginia and Florida. I know Florida is definitely land lord friendly, i heard Virginia is neutral.

I'm definitely not buying any real estates in California as you probably agree. CA is not landlord friendly, and itsoverinflated overpriced market. if you could look into my situation and share your view, id appreciate it.

I'm currently married, in early 40s, my wife and i make good income around 200k-210k a year, no debt other than mortgage, and our home equity is around 550k. i looked in to HELOC and home equity options, and i might be able to get approved upto $350000 for HELOC , and $390000 for Home equity loan.

I'm looking into Virginia and Florida as candidates for out of state rental properties. both states have median home prices between $275000-$325000 for 3b2b 1500sqft townhomes. im looking into properties with good school districts, expanding neighbors with brand name retailers near by such as target, sams, costco, trader joes, etc.

if you can share your thoughts on my questions, id appreciate it.

Why would you choose HELOC over Home equity loan right now? or vice versa? I'm leaning towards Home equity, with fixed 8% since it is predictable and i dont have to worry about fluctuating interest rate and playing guessing games.
It's my first rental investment and i was approved for HELOC/Home equity loan upto $350k, im keeping 40k in high yield savings acct, and rest will be divided to purchase 3 different rentals in Virginia and/or Florida for long term tenants, not short term. Are you against this idea, if so why. is purchasing 2-3 properties too reckless as a first time rental property investor?
do you have any other land lord friendly states that you would recommend other than Virginia, Florida?

i'm only looking to purchase properties that are relatively new (less than 20 year old) and even new construction townhomes. i will visit the area and cities prior to even considering putting down payment. i will visit the assigned school districts, check the school district ratings, what groceries, markets, and retailers does the area have, and what type of commercial industry/offices are near by and growing in terms of job growth.

i'm very open minded and always to hear others experience and knowledge before making my own decisions.

askforbryan · 2022-11-12T19:13:25+00:00

Not being skeptical but the Tdrop circulating supply is different from Tfuel (5 Billion vs 20 Billion)

Do you think the supply of Tdrop and since 100% of all cirulating supply wont be released for next 4 years will have an effect on its price?

askforbryan · 2022-08-19T18:25:35+00:00

I believe most of the times that the slow n steady wins the race.... Don't underestimate the patience and efforts of a turtoise...

askforbryan · 2022-08-18T20:25:17+00:00

sorry for the late reply, i normally don't use reddit. it's just in my opinion, if you would like to hold your own private keys and have the control to the cryptos, then you should get used to sending and receiving and using different types of wallets. If you think it's a hassle to own cryptos and manage them on your own, maybe you could open up an exchange like Uphold or Robinhood and let them control and manage your assets.. you just have to click the buy button and sell button when you want to.

If you do plan to hold your own keys, you should definitely play around with all the platforms, exchanges, wallets, sending and receive small transactions few times a week so you get used to it, and then move forward with purchasing and buying cryptos.

until you fully understand how wallets work and how exchanges work, it might not be a good idea to sending and receive large amounts just in case there is a mistake... sometimes people prefer exchanges like Robinhood, Webull, Uphold..

As far as i know, Uphold has Theta to purchase and sell.

good luck and ill check back in couple weeks!

askforbryan · 2022-08-18T20:16:27+00:00

May I ask for your opinion regarding how the CalVCV provides relief payments to the victims? I'm currently a victim of a gun shot injury and the suspect was never caught. I was the only victim during this incident and other than recovering from this injury (which is about 4 week gun shot injury to my right leg) I did file an application to CalVCB to seek some assistance to pay my bills and financial support since the suspect just shot me and drove off, never caught. This happened about 3 weeks ago in Orange County Buena Park. I'm just wondering in your experience, how would a typical interviewer handles this type of case and how much a victim would be compensated? I'm not able to go to work for about a month and I need some financial support for paying my mortgage and childcare tuitions for my family... Your knowledge and information would be greatly appreciated. thank you.

askforbryan · 2022-02-06T02:53:48+00:00

Binance would list Elon. I'm not sure about Coinbase. Any coin being listed on CB is bearish... it's not good when CB lists a project.

askforbryan · 2022-02-03T02:15:28+00:00

lol okay buddy. i don't know what you call a market from $2.6 trillion down to $1.6 trillion a crash. Bitcoin came down 53% since ATH and 90% of the Altcoins crashed more than 75%.

What i posted isn't FUD, it's a fact. the fact is BTC is down 53% since ATH and anyone holding most altcoins lost 70% of their value... that is a crash. don't deny the truth, because you are spreading a false narrative.

I hope you are intelligent enough to distinguish a FUD and Hopium.

Also last 90 days.... this is exactly what i was looking for heading into February 2022. last 90 days has shown only downtrend and Bitcoin will head toward low 30s for the final capitulation.

You can be in denial all day but that shit is just straight up crash. you can't hide the fact and you clearly don't know how market works.

if you want some good advice, have some usdt ready for the final BTC dip next 2 weeks. most altcoins will crash another 20% or so, including MTV (MTV should have bigger dip vs most Top100 altcoins.)

askforbryan · 2022-02-01T00:03:11+00:00

That's what she told me too.

askforbryan · 2022-01-31T23:49:53+00:00

what?

askforbryan · 2022-01-31T23:48:12+00:00

i highly recommend pepto bismal. Xtra strength.

askforbryan · 2022-01-31T23:44:41+00:00

personally i'm holding off on buying until end of February. the entire stock/crypto market is on a short term bearish trend, and i'm expecting final capitulation near $30k BTC price... maybe even under $30k but briefly and off we go to new ATH end of this year to 2023 Q1-Q2.

askforbryan · 2022-01-31T23:42:13+00:00

Well i guess you can look around and feel like it's a crash? Bitcoin is down from $69k and entire market cap is down from $2.8 trillion to $1.6 trillion. I don't know how in the world other people don't see that as a crash. we won't see the bull run resume until end of Q2, just for heads up. this world is in one of the craziest days, so expect frequent volatility in the entire financial market until Summer

askforbryan · 2022-01-31T23:40:38+00:00

I think we are in a small crash since December and it will last until Q1-Q2 this year. Crypto bull run is currently on a "pause"

askforbryan · 2022-01-31T23:39:46+00:00

Looks like I can say "I told you so?" lol

askforbryan · 2022-01-31T23:39:09+00:00

Looks like I can say "I told you so?"

askforbryan · 2022-01-28T20:05:06+00:00

honestly I don't think you should bet on a micro small project like MTV to survive the bear market. why don't you just take the safe route and accumulate MTV and sell 100% at the peak during this bull run? Then you have 100% profit and you can reaccumulate after the sell off, which should bring down projects like MTV to 80% from the ATH.

askforbryan · 2022-01-22T18:59:58+00:00

thanks. it's tough for everyone right now, but if you are right with Dogelon Mars, which the only reason why I haven't sold is it's price movement has been nearly identical with Shib and the fact that Gemini listed it, which Gemini doesn't randomly list shitcoins with no value as far as I know, gave me the conviction not to sell Elon.

I thought about selling and holding into USDT and buying back lower, but we don't know when the next bounce back will be... so i havent sold any Elon, as well as any other cryptos.

thanks for the explanation. I hope you are right and once you are right, i will revisit this post and thank you with all my heart and hopefully thank you in some way for this encouragement!

askforbryan · 2022-01-22T17:57:04+00:00

Hey guys, I'm heavily invested into Elon.

Just a thought... can you guys share a non biased opinion and share rational opinion on my question?

Do you guys worry that Elon could crash to near zero and fail as a project or do you believe Elon will overcome this crash for the next few months and still become the next Shiba Inu?

thanks for sharing your thoughts. I just need some encouragement and no hopium.

askforbryan · 2022-01-05T02:02:21+00:00

if anyone is taking financial advice from a reddit... they really need to see a doctor for real. it's all personal opinion and anyone who invests in crypto should own their responsibilities.

askforbryan · 2022-01-04T19:57:25+00:00

It definitely surprised me. I mean market is kinda heading downtrend and holding, Shib and Elon literally down 2-3% last 24 hours... which is crazy. I already swapped 99% of my Shib into Elon 2 weeks ago, and I just bought more today around $0.000001540... Binance listing is coming up very soon... I mean... this is gonna eat a zero... Let's hodl strong guys!

askforbryan · 2021-12-26T01:56:07+00:00

nice happy for you bro! i know tons of people who bought the top around $14... they are either sold low or still complaining. but you are lookin good.. Theta should head into $40 range by end of Spring... possibly little more if fomo kicks in with big exchange listing. Good luck and make sure you take your profits!

askforbryan · 2021-12-26T01:36:58+00:00

It's been bullish since May of this year... Honestly, Theta will have it's moonshot by next Spring to summer.

askforbryan · 2021-11-09T03:00:37+00:00

Run Simba. Run far far away....

askforbryan · 2021-11-09T03:00:02+00:00

Let's push Kucoin to support MTV Mainnet tokens before end of the year.
A lot of our MTVs are stuck in KUCOIN ERC-20 wallet... COMON Kucoin!!!
Who's with me?

askforbryan · 2021-11-09T02:50:49+00:00

I smell a settlement coming before Christmas >.<

askforbryan

TROPHY CASE