Using HELOC on primary residence to invest
Recommendations for banks with HELOCS that offer 90%-100% of equity value? I've got the R.E. bug! Been following BP for the past year, listening to podcasts, reviewing the forums and getting my hands on as many books as I can. Not gonna get caught with analysis paralysis and am ready to get started in 2019. I'm looking to do buy and hold. My strategy is to get started by leveraging the equity I have in my primary residence (currently $70,000 - $80,000) by using a HELOC and then acquire as many rental properties as I can using the BRRRR method. I have a lot of goals this year but my main goal is to gain at least 3-5 properties and tapping into my equity I feel is the best way for me to get started in achieving that. I live in the Charleston SC area and am open to local, national or online banks. Thanks for the help BiggerPockets.
Most Popular Reply
@Kyle Stanley, you'll need to do the legwork with your local banks/credit unions, but Navy Federal offers 95% LTV HELOC on primary residence.