Rehabbing My Grandma's House with a HELOC

[Colleen Cupp]

Hey BPers!

Looking for a little direction! My family has decided to completely renovate my grandmother's house and use it as a vacation rental. We are in Dallas and her home (that's paid off) is worth about 500k as is and hopefully about 800k or more once renovated. We were going to get a HELOC to tap into the equity of her home in order to do the renovations. The problem is- we can't find anyone that is still doing any HELOCs. Has anyone opened a HELOC recently and can give me some direction on who to contact? Also, anyone know of an awesome luxury contractor? Thanks!