Buying properties with a HELOC?
Hi everyone,
I have just recently obtained my brokers license in the state of Washington and I also have a decent amount of equity in my home that I have lived in for over 5 years and I was wondering if there were any webinars/videos/articles or anyone out there that has succeeded in buying property with a HELOC. I have about 100k in equity and I would love to make a move and utilize that equity for my benifit.
Most Popular Reply
@Hank Austin I used my HELOC as the entire 25% down payment, and the remaining balance as the rehab budget. I'm currently putting in finishes on the property and will hopefully have a renter in there very soon, at which point I will have the unit appraised and refinance to pull my equity out and pay back the HELOC.