HELOC vs. unsecured line of credit for rental

[Debra Lamm]

There is no question that I have to use OPM for this venture. My big question right now is HELOC vs. unsecured line of credit. The goal is to purchase a B/B+ rental that does not need copious amounts of repair. Should I use the HELOC for a down payment with conventional financing and the usual 20% down, 30-yr. loan? My thought is to use the HELOC for down payments on 2 or 3 properties. An unsecured line of credit makes sense for rehabbing and reselling, but not so much for rental property (in my mind, that is).

I do want to flip eventually, but not until I have a rental or two under my belt.

Thoughts?

-Deb

[Tom Tippmann]

Just curious, how do you plan on getting 100% financing? Through a private lender?