HELOC to Make Cash Offer
Looking for feedback on my strategy. My thoughts are I can get better deals with a cash offer on or off market. To that end, I can access $280,000 on a HELOC at 6.75%, and have other funds available to make a total cash offer up to $400,000 on property in either CT or Florida (my target areas). I like the flexibility of the HELOC allowing me to quickly close within 7 days if a deal becomes available while incurring no interest while I look. Considering either BRRRR or flip in Connecticut for MFH or SFH and/or long term MFH or SFH rental in Florida.
Most Popular Reply
Yes, good strategy. It is how I built my portfolio. Check out "delayed financing option" as a nice way to "rinse and repeat".