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Joseph A Henke
Pro Member
  • Real Estate Agent
  • Chicago, IL
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25
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Buying multiple rentals cash then using HELOC to buy more.

Joseph A Henke
Pro Member
  • Real Estate Agent
  • Chicago, IL
Posted Feb 1 2022, 09:44

Hi Everyone!

I am a real estate agent agent in the in the NW Chicagoland area. I work with many investors and I am ready to start investing in rentals myself. I am interested in the Rockford, IL area for the low prices and decent rental rates. I plan to buy 2-3 houses for 50k or less a piece then uses HELOCs to recycle the money and buy more. Are there any holes in this strategy that I am not considering? I can't qualify for a loan until I am two years in the agent business so this is why I plan to leverage in this way.

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