Updated over 10 years ago on . Most recent reply
First Investment Property
Has anyone taken out a HELOC on their primary residence to cover closing costs and repair costs for a property they are looking to flip? I am new to this and read many of the posts but have not seen this one. I have the cash to put 20% down, but my thought process was perhaps if I could swing it this way it could be beneficial to not tie this money up? I have a full time job and want to get into this on the side, with hopes of growing it into full time with buy and holds to rent. It has been suggested to me to work on increasing the cash you have on hand first to be more competitive in the market. Thanks for any help!