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Updated over 5 years ago on . Most recent reply

Uchenna Egwuonwu's profile image
Uchenna Egwuonwu's profile image
Uchenna Egwuonwu
  • Flipper/Rehabber
  • from St. Charles, MO
  • Member since Mar 10, 2019
  • Posts 9
  • Votes 3
  • Experience 6 Yrs
  • Investments 1
Connect

User Stats

9
Posts
3
Votes
Uchenna Egwuonwu's profile image
Uchenna Egwuonwu's profile image
Uchenna Egwuonwu
  • Flipper/Rehabber
  • from St. Charles, MO
  • Member since Mar 10, 2019
  • Posts 9
  • Votes 3
  • Experience 6 Yrs
  • Investments 1
Connect
Uchenna Egwuonwu
  • Flipper/Rehabber
  • St. Charles, MO
3
Votes |
9
Posts
General Landlording & Rental Properties

HELOC to Repair Rental Property?

Uchenna Egwuonwu
  • Flipper/Rehabber
  • St. Charles, MO
Posted

My question is whether or not I can get a HELOC on the equity of a rental that I should close on in mid-January. 2 of the 4 units need repairs to be rented out. The house will be attained via a subject-to contract. There is a mortgage still in place. I'd like to use the ~54% equity to make those repairs. Is this possible?

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