Primary Home Pay Off To Increase Line Of Credit

Primary Home Pay Off To Increase Line Of Credit

Curt DavisBusiness Member
Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes

So 9 months ago I set a goal to pay off my primary residence. $280k later I have accomplished this goal. I will now be able to increase my line of credit against my home to $600k which can be used to fund my own flips, make private loans, take down homes all cash, etc…. This will save me a lot in hard money lender fees and interest. I know some ppl do not believe in paying off homes but personally I dont think you can truly realize your true cash flow and REI until you do.

Curt Davis - KAIZEN Realty538 Reviews
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  • Edwin BattePro Member
    Member since 2021 · 30 posts · 12 votes
    5y

    @Curt Davis Congrats on setting and reaching that goal! Your plan seems sound to me. I'm a newbie, though! Waiting to see what others think. 

  • Real Estate Agent · Sisters, OR · Member since 2014 · 1k+ posts · 1k+ votes
    5y

    @Curt Davis

    If you can pay 280k off in 9 months you can do whatever the hell you want.

  • Curt DavisBusiness Member
    OP
    Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
    5y

    HahahhaahThanks Eric!!!! Let’s just say that the past 9 months have been good and setting the goal certainly helped. 

    Curt Davis - KAIZEN Realty538 Reviews
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