All Forum Posts by: Aaron Byler

Thanks for the input guys. I am familiar with HELOCs but I'm not sure of the details. 

Is it a revolving line of credit that you can draw from and pay down as needed, much like a credit card?

Do you have to pay any payment if you have a zero balance on the HELOC?

Hi guys,

I am looking to get into flipping houses but I need some help understanding if using the equity in my house is feasible.

I have about $200K in equity in my house and really don't have extra cash flow to add to my monthly budget. Is there a way to use this equity without refinancing and raising my monthly mortgage payment?

I am skilled in the trades so I do not need a bunch of money to pay subcontractors during the flip, since I will be doing much of the work myself. But how do I free up that equity to get the deal started?

Thanks