Today, we're answering your questions on how much time real estate investing really takes

how to tap into your property's equity, if it's a rental, and what to do when you win a tax

lien bid. But suddenly, you've realized you might have stepped into a tricky situation.

Yeah, these are all real, raw rookie scenarios and the kind of stuff you won't find in a

textbook. We'll share

what's worked for us, what to watch out for, and what we wish we knew started. Welcome to the

Real Estate Rookie Podcast. I'm Ashley Care. And I'm Tony J. Robinson. And with that, let's jump into

today's first question. So our first question comes from Marissa, and she posted this in the Bigger Pock's forums. And she says, I'm new to this space, but was looking for some advice on obtaining a helock on a home that I'm currently renting out. I own the home, but do not live there as my primary residence. I live with my parents and still have a mortgage on the home. I'm quickly learning that many banks do not give helox on rental properties. I've called a couple of local banks, including the one that the mortgage is through, as well as larger banks like Bank of America and Rocket Mortgage. None offer helox on rental properties that still have a mortgage. There is nothing I want to purchase right now, and I will have tenants in the home at least until the end of this year. I still wanted to pursue a helock in case any opportunities come up in the future. I was wondering if anyone would be able to give me advice on if there is a chance of getting a helic in my current situation. Does anyone know of any lenders or programs that might be open to a

helic on a rental property? Any advice to be greatly appreciated? Thanks so much. Yeah, I think,

and Ash, let me know if you've had a different experience, but yeah, typically helic is something

that is more predominant on a primary residence. And what you'll see a lot of investors do

is if they know that they want to get a

a heloc on a property that was a previous primary residence, they'll get the helock before

they move out and turn it into a rental.

Because once you've got the helock, it's yours.

You know, obviously maybe check with the stipulations of your specific helock.

But if you get the helock, when it's your primary residence,

and you move out at some point thereafter, it's while the line is still open, typically that's,

that's okay. We attempted to get a line of credit on one of our Airbnbs because we have a good

amount of equity and we didn't want to sell the property. And even for us, you know,

we probably had, I don't know, close to $400,000 in equity on this property. And we had a hard time trying to find a line of credit. And we actually went with the bank. We were like almost at the finish line on getting this like commercial line of credit. And then it ended up falling apart at the last minute because of some zoning issue. We just haven't like reattempted it yet. So Ash, I know what's your experience been? I know you've used lots of lines

of credits, but were the helocks or were they different types of loan products? Yeah, I've actually

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