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Updated about 12 years ago,

Scott W.'s profile image
Scott W.'s profile image
Scott W.
  • Real Estate Investor
  • from chicago, Illinois
  • Member since Jul 23, 2012
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1,284
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231
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Scott W.'s profile image
Scott W.'s profile image
Scott W.
  • Real Estate Investor
  • from chicago, Illinois
  • Member since Jul 23, 2012
Connect
Scott W.
  • Real Estate Investor
  • chicago, IL
231
Votes |
1,284
Posts
Creative Real Estate Financing

HELOC after getting a private loan

Scott W.
  • Real Estate Investor
  • chicago, IL
Posted

Is this possible? Get a private loan, buy & rehab, & then get a HELOC to pay off the private loan ($75k).

Then, get another private loan & do it again.

Pros? Cheaper fees than a conventional loans?

Cons? Rates can adjust with inflation? Bank can end the line at any time?

Anything I'm missing or off base?

I do know of a bank that does this.

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