Your guests might want a frozen pizza or wings.

I spent about 300 and he saved me $1,200 per year which was frozen for 3 years. 

Often, if you are late on one or more payments during a x-month period, your access to additional funds will be frozen, the interest rate may increase, and your credit will certainly be dinged.

If your plan is to use a HELOC short-term (say, 6–12 months) to fund BRRRR deals and then cash yourself out with a refinance, an interest-only HELOC absolutely makes sense in most cases.Here’s why:Lower monthly payments: Since you're not paying down principal during the rehab phase, your carrying costs stay minimal—especially helpful if the property isn't cash-flowing yet.Short-term use = less risk from adjustable rates: Most HELOCs have variable rates, but if you're repaying or refinancing out within a year, you're not as exposed to long-term rate hikes.Better cash flow = more flexibility: Lower payments free up cash for rehab, holding costs, or even your next deal.A few things to keep in mind:Make sure your draw period is long enough (typically 10 years), and check if there are any prepayment penalties or required repayment timelines.Have a solid refinance exit strategy—including appraisal comps, rehab timeline, and seasoning rules from your target lender.Watch for lender restrictions—some HELOCs can be frozen or reduced if the market dips or if your credit profile changes.If this is your first BRRRR, consider stress-testing your numbers with a few extra months of holding just in case things go slower than expected (they often do on early projects!).

IMHO not even close to 09 2010 prices in SWFA were down 50 to 80% in many areas. as well as other parts of the country and financing was completely frozen for all but the 1% ers for any kind of inestment props..

I've lost count of the number of RAD investors who posted in the BiggerPockets forums about their "hard money loans" and then having their distributions "frozen".

Another big tip is when your market is frozen, lacks inventory or over priced.

When I was a Realtor showing rehabbers every dang abandoned, frozen foreclosure in January (10 degrees colder inside than outside after a good overnight cold-soak), I never knew who or what was inside.Smith & Wesson .38 Airweight loaded with +P rounds.NOT a fun gun to shoot. 

AZ MLS listings are frozen and there are plenty of examples of new listings now under water from a 2022-2024 purchase price.

PS: If you take a stroll through the Reddit boards, you will see a boatload of unhappy investors, who are reporting many of the funds have frozen dividends, increased escrow and capital calls and management fees.