Using HELOC to be private or hard money (HM) lender

[Bria Johnson]

Hi! Would love to hear from folks who have used a HELOC to private /HM lend.

-How did you get started?

-How do you protect your asset?

-What kind of assets do you lend on?

[Karl Denton]

I helped a friend with this recently, he wanted to invest and I recommend using a HELOC as a line of credit to then fund hard money for the right deal and being able to get the money back out of the deal when it was refinanced. This is the absolute goal, he got started by obtaining the HELOC and then talking with HML's, as for protecting your asset you need to run numbers on the deal. Asserts that they will lend on depends on the lender and the value of the property.