Do heloc? Have to be second

[Jonathan Pallen]

I have a SFR paid off. I’m getting ready to apply for a heloc in the spring to use as down payments to acquire more property but I just had another investor tell me I need a loan on the home otherwise the banks will not give he a home equity line of credit. Is this true?

[Brian Cardwell]

Helocs can absolutely be in the first position. I have one myself and use it in the way you are talking about. If one bank tells you no, then go to another. Mine is actually done through a credit union.