975: Q&A: Can You Get a HELOC on an Investment Property? - Episode 975
Investing in Real Estate with Clayton Morris | Investing for Beginners
Clayton Morris
4.1 • 1.1K Ratings
🗓️ 21 August 2023
⏱️ 21 minutes
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Summary
This episode of Investing in Real Estate features three listener questions on topics like finding a HELOC, how to start investing with bad credit, and how to learn more about using VA financing to buy rental properties. As always, I appreciate your questions and I hope you find my answers helpful on your investing journey.
Transcript
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| 0:00.0 | Hey everybody welcome into the investing in real estate show I'm Clayton Morris I hope you are having a wonderful summer I love summer. I love having the kids running around and you know just outside non-stop playing in the sun |
| 0:19.5 | Doing like slipping slides and playing you know at the the pool at the beach or whatever you know |
| 0:24.7 | camp and all of that stuff and then trying to seek some shelter inside the air |
| 0:28.4 | conditioning because it's so stinking hot and playing some video games for a |
| 0:31.2 | little while that was my childhood I don't know about you guys, but being outside all day, |
| 0:35.2 | burnt to a crisp, coming in, hiding in the basement, playing some video games for a little while, |
| 0:39.7 | just to recover, recover. That's summer. |
| 0:42.8 | So we are in the dog days of summer right now. |
| 0:45.2 | And of course, we are waiting to see |
| 0:46.7 | what's going to happen later this year with the Federal Reserve. |
| 0:49.2 | What are they going to do with interest rates? |
| 0:51.1 | Are they done raising rates? It appears that they are. So then interest |
| 0:55.1 | rates can start to moderate, start to decline, and inflation, maybe, maybe, maybe, will |
| 1:00.4 | start to come down maybe in the next year or two, but for now we're kind of stuck with these higher than normal interest rates, but think about it in the housing market, we are at a place where we are much lower than when we were in the 1990ss where we had a housing boom. |
| 1:14.0 | So in many ways prices on certain overpriced markets like Nevada and Utah and Salt Lake City and places like that, |
| 1:21.0 | Phoenix Arizona, Boise, Idaho, I always point out. in 16%. Those prices in those overblown markets have come down a little bit, but they're still, because they still were enormously high from where they were up 16, 18, 20%. |
| 1:41.0 | So even if we have come down 8 percent 7 |
| 1:43.8 | they're still up overall in some of these residential markets so that's what's |
| 1:48.3 | happening on that side and then of course we're seeing inflation which is |
| 1:51.8 | going to be continuing to stay high for quite |
| 1:54.3 | the foreseeable future. So what does all of that mean? Well it means you can sit on the |
| 1:58.0 | sidelines and not invest and hope that maybe 10-20 years from now interest |
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