HELOC from my primary residence vs Hard money to finance a flip?

[Kevin Geary]

I have a couple hundred thousand equity in my primary residence. I like where I live so selling to free up money is out of the question. I am a licensed realtor and want to finally flip a property if possible. Hard money seems like the standard way of financing a project like a flip renovation. Is financing with the equity of my current home a terrible idea? TIA.

[Kyle McCorkel]

Kevin Geary No, it's a great idea. I like to use HELOCs as cheap, short term money for rehabs. Then I refinance (in your case, you would rehab and sell) and you can pay off your HELOC with the proceeds. Then you can keep doing it over and over again. No closing costs, low interest rate, you only have to qualify once....so many advantages over hard money!