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Updated over 1 year ago on . Most recent reply

Beau Alesi's profile image
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Beau Alesi
  • Member since Sep 14, 2019
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Beau Alesi
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General Real Estate Investing

HELOC Option ????

Beau Alesi
Posted

I have a very good chance( working up the contract) to get a short sale for $425k. House is worth about $675. I need to go the investment loan route which requires about 20% down. I have about $350k equity in the home I currently live in and about $250k in my other rental. I'm not liquid and don't have the cash for a down payment. Should I take out a HELOC for the money? Thanks

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Jeff Nash's profile image
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Jeff Nash
  • Accountant
  • from McKinney, TX
  • Member since Jan 12, 2023
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Jeff Nash
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  • from McKinney, TX
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Jeff Nash
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  • McKinney, TX
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Jeff Nash
  • Accountant
  • McKinney, TX
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@Denver McClure would be someone to speak too.  There are several variables and it would be necessary to understand your overall financial position and goals.  

  • Jeff Nash
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