Updated almost 12 years ago on . Most recent reply
Best financing options for buy and hold /wholesale flips
What are best type of loans to seek when trying to acquire more properties for buy and hold or maybe quick wholesale flips? I have a free and clear rental that I pulled a heloc in the amount of 18,500 I owe 7k on and the prop is worth 80k. I came across a property that I negotiated down to 10k and was considering long term hold on it. I want to have my funds squared away so when a property like this comes along I can buy quickly.
Are there any bank institutions that are doing helocs with interest only payment? Wells Fargo advised that they are no longer doing these.
Ideally I'd love to have the equity available to dip into it without having to go through closing each and every time that I want to add to the loan.
This site is amazing and I can never repay everyone for all of their help/ support.