HELOC on a shell property

[Amber McGill]

I am considering purchasing a shell property from the city. I have a cash to purchase the property outright but need funding to renovate.

Here are my questions:

Has anyone used a HELOC to do this?

Do shell properties actually have value when they’re a shell?

What are ways to get funding for the reno?

This will be a property that I would ultimately live in and potentially rent a portion. & I am a first time home buyer.

[Amber McGill]

@Andrew Postell Thank you so much! This is extremely helpful.