How should I invest my home equity loan

4 Replies

Hi everyone I'm a newbie and I would love to invest in real estate.I bought my house as seller finance deal just finish paying it and I think that I should at least be able to get 40-50k on a heloc.I really want to do the brrrr strategy with a fixer upper but I have no idea about how to go with the rehab.i worked in construction hanging drywall before but I just have no idea on how to go about the permits,inspections and all of that. I basically need help with all the process I'm just trying to have the courage to actually make this happen. Thanks.              

Invest in what you know. If you don't know, learn. As the homeowner, you can do most if not all of a light rehab without permits and inspections. Drywall is one of the best things to know. Remove wallpaper, repair drywall, paint, and replace fixtures. Hire out the flooring if you want. This is what most rehabs consist of. Don't buy a deal that needs to be gutted to the studs, re-wired and plumbed until you get more experience.

Depends on the market you are in.  I truly believe if you search you can find a light cosmetic you can feel comfortable with. 

 @John Leavelle has a great idea to get a general contractor.  

JV is also an option,

Enjoy and move on.