HELOC for a BRRR deal
From PA. I currently have about 200K of equity in my house. Is it possible/a good idea to use a HELOC for a BRRR deal? I'm a rookie investor with 1 rental under my belt which has about 70k of equity. Open to suggestions!! Thanks!
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Very popular strategy, @Bill Rogers. Use your HELOC to buy cash and renovate. Then after the property has been rented out and seasoned, refi to pull out all (or most) of your capital, and pay back the HELOC. It's ready to be used again.