HELOC Question W/ Numbers

1 Reply

Hello all,

I currently own a property I purchased about three years ago and I have a loan balance of $129,000. Comp across the street from me went for $171,000. I have been searching for places to attempt to take out a HELOC to do a BRRRR. Does my property not yet have enough equity yet and should I wait longer to try to access the funds or can I get creative with the current equity in another way?