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Updated over 2 years ago,
Canada - How to use fully paid-off land + house to fund deal?
Hi everyone,
I'm looking for ways to find funding for my next BRRRR deal.
Currently, I have a piece of land, as well as a separate SFH, that are both fully paid for, and are worth quite a bit. I'd like to pull some equity out of either, or both, to fund my next deal.
I know I can probably get a HELOC on the house, but can I get a HELOC (or something similar) for the vacant land (it's in a city and has utilities hooked up) as well? I don't want to sell either at this point, but would like to make use of the money just sitting in them...
Also should be mentioned that I have no verifiable/proof of income.
Any ideas would be greatly appreciated!