Updated over 5 years ago on .
HELOC or Home equity loan?
Hey everyone, my name is Jack and I am 25 years old living in Florida. I am looking to get into real estate investing. One thing I enjoy about BP forums is how thoughtful and willing to help everyone is here so I thought I'd try my luck. I'm currently studying up on different strategies on these forums and online and I'm really interested in BRRRR. As someone who has been working in my current job for less than 2 years, I don't have the ability to get approved for much of a loan, and if you know the housing market in south Florida you know it ain't cheap haha. So an FHA or conventional on a multi family home, live in one half rent the other, doesn't sound like the best avenue for me to get into real estate. If I were to start investing using the BRRRR strategy, I would need to drum up cash from an investor. I was thinking about asking a Close friend or relative for a HELOC or home equity loan, but wasn't sure which would be best. Would love the feedback and ideas from anyone with experience!