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Updated about 5 years ago,
Business property HELOC?
I am currently buying a Personal Care Home. I have about 90% of the price we agreed upon (200k) of the land contract paid off. I am currently running the home and it is profitable. After it is paid in full, the deed will be in my name.
I am looking to use the property to fund more properties using the BRRRR method. And paying those loans down with the money from the business. My problem is this: I am unsure how to get money out of the equity/building that houses a business. Does anyone have any idea on how I can accomplish this?