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Updated over 8 years ago on . Most recent reply

Carter Crowley's profile image
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Carter Crowley
  • Flipper/Rehabber
  • from Oshkosh, WI
  • Member since Sep 24, 2016
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Carter Crowley's profile image
Carter Crowley's profile image
Carter Crowley
  • Flipper/Rehabber
  • from Oshkosh, WI
  • Member since Sep 24, 2016
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Carter Crowley
  • Flipper/Rehabber
  • Oshkosh, WI
49
Votes |
107
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Creative Real Estate Financing

HELOC Questions BRRR Strategy

Carter Crowley
  • Flipper/Rehabber
  • Oshkosh, WI
Posted

Hey Everyone! 

Just want to be right upfront and say I have 0 experience with HELOC. But here are my questions and if you have anything to add please let me know! Every bit of information is appreciated

If I have a PML fund a fixer upper (Purchase and Repair) Single Family Rental am I able to pull the money back out via a HELOC if the house appraises out for the right value to pay the PML back?

Let me know the PROs and CONs of this strategy or any experience you have had with it! 

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Chris T.'s profile image
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Chris T.
  • Investor
  • from Downers Grove, IL
  • Member since Aug 10, 2015
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Chris T.
  • Investor
  • from Downers Grove, IL
  • Member since Aug 10, 2015
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Chris T.
  • Investor
  • Downers Grove, IL
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Chris T.
  • Investor
  • Downers Grove, IL
Replied

Whoa ! @Michael Barbari 

I apologized I did not pay attention in the meetups! I will be contacting you for sure if I need to pull equity from my rentals. 

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