Heloc good or bad to start with?

Heloc good or bad to start with?

Rental Property Investor · Effort, PA · Member since 2019 · 3 posts · 0 votes

I was pre approved for a 110k heloc and was wondering if I should get started with that?

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  • Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
    1y

    It can be good to start but you want to pay it back after using as soon as possible. Targeting a flip or BRRR is ideal for HELOCs. I would make sure you have $$ outside of the HELOC before utilizing it. It would give you a cushion.

  • Rental Property Investor · Effort, PA · Member since 2019 · 3 posts · 0 votes
    1y

    @Caleb Brown thanks I appreciate your input

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