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Updated over 4 years ago,
Using Personal HELOC to buy a flip house
I recently used a personal HELOC to purchase a flip house then rehabbed and sold the house. I decided to use a 1031 exchange for the tax advantages and our accountant told us we can't use any of the proceeds to pay back our personal HELOC. Have any of you ever used the proceeds to pay back your personal HELOC and how did you do it?