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Updated almost 4 years ago on . Most recent reply

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Wil Orozco
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3
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book(s) recommended for using HELOC

Wil Orozco
Posted

I have a duplex with over $400k in equity and a single family home with over $200k in equity . I would like to get a HELOC to use for either fix and flips or buy and hold properties or both. What book(s) would someone recommend for helping me out with my goals. I am in Pasadena, CA (15 minutes from LA). Thanks in advance

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Justin Phillips
  • Lender
  • Phoenix, AZ
256
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440
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Justin Phillips
  • Lender
  • Phoenix, AZ
Replied

@Wil Orozco I haven't heard of any book on that specific method, but I'm a huge fan of the strategy! My wife and I ReFi'd our Temecula Property into a very specialized 1st position line of credit that's tied to a zero balance sweep checking account. That allows all of our idle funds/checking deposits to be swept directly towards our remaining balance, saving interest cost. With every dollar that goes in, we're also increasing flexibility, and our available line to pull from. The best part, each property we purchase/pay-off using the line actually pays off faster than the last with the added cashflow! 
It's hard to beat the ability to be your own bank, and profit off of all your regular banking. 

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