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Updated about 8 years ago on . Most recent reply

User Stats

102
Posts
10
Votes
Jeremy Karja
  • Rental Property Investor
  • Elk River, MN
10
Votes |
102
Posts

How do I actually use a Heloc and credit lines to finance homes?

Jeremy Karja
  • Rental Property Investor
  • Elk River, MN
Posted

Sorry if this is pretty basic.  How do I actually use a Heloc and credit lines to finance a RE purchase?  Just get a check from each institution?

I spoke to a RE and told them my situation and they asked how I would pay and I told them heloc, credit lines, and IRA (I know you can't mix Ira funds, I work with IRAS for my job). She said okay you are paying cash then? Well can I put my heloc and credit lines together and pay cash? (Together they would be enough but sperately they would probably not be in my area of Minneapolis... but maybe) is this a good strategy using BRRRR or should I try to raise private money first?

Thanks eveyone.

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