HELOC on house in Family Trust
Hey there! Cross post as I didn't get any traction in the Creative Financing forum. I recently renovated a house (where I am trustee) that is free and clear here in CA. We plan to rent it out soon. Is it realistic to think that I can get a heloc on it to purchase a rental and put in the trust? Would I have to wait a certain amount of time to prove positive income on this house's cash flow? Thanks for advice in advance!