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Updated almost 9 years ago on . Most recent reply

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Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
342
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1,254
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Can anyone tell me if this would work

Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
Posted

My moms house is worth 650k. She does not have a mortgage or any liens on the property. I want her to open up a HELOC so I can buy a fixer upper with cash and do all the rehab work with cash. Then sell it for a profit. Then pay off the HELOC.

Would this be possible?

Most Popular Reply

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Charlie Fitzgerald
  • Lender
  • Las Vegas, NV
1,102
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2,283
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Charlie Fitzgerald
  • Lender
  • Las Vegas, NV
Replied

That's a huge undertaking to place that much of your mom's equity at risk with in my opinion.

  • Charlie Fitzgerald
  • Loading replies...