Private HELOC is there such an animal?

[Scott Johnson]

I have a lot or untapped equity in my primary residence that I would like to use for REI (flips or fix and holds). I have approached a couple of banks and although I have equity (>$200K) and significant other assets in SDIRA and cash, I currently have no income as I transition to full-time REI. Banks don't like this. Any suggestions as to how I can tap equity?

[Chris Mason]

@Scott Johnson, it wouldn't be a HELOC in the sense that you can click a mouse and move the funds over, or swipe a credit card (yes, that exists for HELOCs) for a $300k purchase.

It would more be a relationship with a private investor, probably someone who is herself in REI. Something like...