All Forum Posts by: Wayne Gaudette
Wayne Gaudette has started 1 posts and replied 2 times.
Post: Financing my first flip
Wayne GaudettePosted
- Posts 2
- Votes 3
Thanks for the replies. I'm closing on a 350K HELOC with the first yr at 3.45% which seem to be a no brainer. After that, I can repeat at closer to 6% as it goes variable but for short term flips it seems like the way to go.
Post: Financing my first flip
Wayne GaudettePosted
- Posts 2
- Votes 3
Hi,
Looking to purchase my first flip. My primary home has 500K equity and I have a rental condo worth 220K (no mortgage). After researching the forums it seems to me a HELOC on my primary home to fully purchase the flip (150K-250K purchase range) would make the most sense.
Does this make sense?
Thanks,
Wayne
Looking to purchase my first flip. My primary home has 500K equity and I have a rental condo worth 220K (no mortgage). After researching the forums it seems to me a HELOC on my primary home to fully purchase the flip (150K-250K purchase range) would make the most sense.
Does this make sense?
Thanks,
Wayne