Finance repairs with HELOC

[John Thaxton]

I'm evaluating a flip possibility now (my first) and have a basic question: If I pay cash for the house can I get a HELOC on that house to pay for rehab? A banker I talked to said it would be possible but I haven't followed up yet. I will on Monday.

Up until now I have been focused on all cash or hard money deals. Haven't seriously considered this route.

Basics on house: 110 purchase, 228 ARV, 57 rehab, low DOM area. (73% ish deal)

Thanks, now ill return to plumbing the depths of BP.