Equity Line with Dad or Loan from Dad?
Hello all, I'm a new member from Sacramento, CA. About 10 years ago my Dad and I put another house on the back of his lot and rented out his old one, it's working great. We combined the equity lines of both of our properties to do this, then refinanced back out with a 30 yr fixed. We are thinking of using our equities again to do some flips before the next crash (just kidding...). I heard someone talking about having his dad become a hard money lender. I was wondering if anyone can give me some insight on using pops as a lender vs using his HELOC (tax benfits or whatever...). The goal is to offer all cash deals. Is there is a better strategy for what we're doing here? Thanks.