Updated almost 2 years ago on . Most recent reply
HELOC for first property
Hello everyone. This will be my first of many questions. I have just secured a $35000 HELOC. I intend on purchasing my first rental (Single family or duplex to fourplex). I don't understand how people are buying then rehabbing properties to raise the rents. I don't know how I would be able to do that with only $35k available of my own money. Would anyone like to explain a few options other than just turn key properties? Thank you
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Julien Jeannot
#4 House Hacking Contributor
#4 House Hacking Contributor
- CPA, Real Estate Broker & Investor
- Seattle & Woodinville, WA
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Julien Jeannot#4 House Hacking Contributor
#4 House Hacking Contributor
- CPA, Real Estate Broker & Investor
- Seattle & Woodinville, WA
@KC Pake did a great job summarizing it!
In my market, its common to use private money to get it done.