@Rigo V. - I use my LOC multiple ways. I have used it to buy land that will then be built on; I have used it to buy properties for cash; I have used it to fund short term renovations as well. What I have avoided using it for is as a fix for long term financing.
@Rigo V. - I use my LOC multiple ways. I have used it to buy land that will then be built on; I have used it to buy properties for cash; I have used it to fund short term renovations as well. What I have avoided using it for is as a fix for long term financing.
@Rigo V. Good advice from @Andrew Kerr. You could also consider using your LOC for the equity needed in a deal and then applying leverage through financing from a HML or bank. While the rates will be higher, the return on your cash should be greater as well. Your risk tolerance should help dictate whether or not you leverage your funds.