Updated over 9 years ago on . Most recent reply
Can anyone tell me if this would work
My moms house is worth 650k. She does not have a mortgage or any liens on the property. I want her to open up a HELOC so I can buy a fixer upper with cash and do all the rehab work with cash. Then sell it for a profit. Then pay off the HELOC.
Would this be possible?
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That's a huge undertaking to place that much of your mom's equity at risk with in my opinion.