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Updated 10 months ago on . Most recent reply

Tyler Brady's profile image
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Tyler Brady
  • Real Estate Agent
  • from Salt Lake City, UT
  • Member since Jan 30, 2016
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Tyler Brady's profile image
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Tyler Brady
  • Real Estate Agent
  • from Salt Lake City, UT
  • Member since Jan 30, 2016
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Tyler Brady
  • Real Estate Agent
  • Salt Lake City, UT
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Creative Real Estate Financing

Can I get a HELOC on a subject 2 property I bought?

Tyler Brady
  • Real Estate Agent
  • Salt Lake City, UT
Posted

Looking for ways to keep this property in my portfolio as a long term rental. I asked my accountant if I can deduct anything in the property like depreciation and he said since nothing is in my name tax wise I can't. (Need to double check that) but has anyone been able to take a HELOC out on a subto property they own? Any other advice on this would be helpful too!

Salt Lake City, Utah
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Nicholas L.'s profile image
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Nicholas L.
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  • Flipper/Rehabber
  • from Pittsburgh
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Nicholas L.'s profile image
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Nicholas L.
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Nicholas L.
#5 All Forums Contributor
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  • Pittsburgh
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Nicholas L.
#5 All Forums Contributor
  • Flipper/Rehabber
  • Pittsburgh
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@Tyler Brady

how would taking out a HELOC help? wouldn't that just be more debt?

  • Nicholas L.
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