Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 3 years ago,

User Stats

14
Posts
7
Votes
Kam Nak
7
Votes |
14
Posts

Using Heloc for BRRRR and finance

Kam Nak
Posted

I have read some posts here in the forum where people have used HELOC to buy a property cash out and then get a mortgage loan to paydown HELOC in 1-3 months after some renovations. One of my question here is when you use HELOC to buy out all cash property it would affect your credit score drastically. So now, when I go to the bank to get a home loan I would have a bad credit score to start with because of using good chunk of HELOC credit (either I would end up with a bad interest rate or my loan or not get a loan)

Am I missing something here ? what is the correct process to implement this strategy?

Loading replies...