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Updated over 11 years ago on . Most recent reply

Brit Foshee's profile image
Brit Foshee's profile image
Brit Foshee
  • Investor
  • from Fort Myers, FL
  • Member since Jun 9, 2012
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Brit Foshee's profile image
Brit Foshee's profile image
Brit Foshee
  • Investor
  • from Fort Myers, FL
  • Member since Jun 9, 2012
Connect
Brit Foshee
  • Investor
  • Fort Myers, FL
199
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462
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Private Lending & Conventional Mortgage Advice

First Mortgage or HELOC

Brit Foshee
  • Investor
  • Fort Myers, FL
Posted

Somewhat new to the financial side of REI. On my second flip. Purchased cash for $54,000 on 12/16/13. Rehabbed about $20,000. Home is currently worth about $130,000. Renters moved in on June 1st. I need to get as much cash out of the project to move on to the next one. What is the best way to do this ?

HELOC ? 1st Mortgage ?

I have been hearing that some banks are allowing 6 month maturity time frames rather than 1 year. Does anyone have any leads on this ?

Any help would be appreciated!

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