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Updated about 3 years ago on . Most recent reply

Joseph A Henke's profile image
Joseph A Henke's profile image
Joseph A Henke
  • Real Estate Agent
  • from Chicago, IL
  • Member since Feb 7, 2017
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25
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2
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Joseph A Henke's profile image
Joseph A Henke's profile image
Joseph A Henke
  • Real Estate Agent
  • from Chicago, IL
  • Member since Feb 7, 2017
Connect
Joseph A Henke
  • Real Estate Agent
  • Chicago, IL
2
Votes |
25
Posts
Chicago Real Estate Forum

Buying Houses Cash then using a HELOCs to buy More

Joseph A Henke
  • Real Estate Agent
  • Chicago, IL
Posted

Hi Everyone!

I am a real estate agent in the in the NW Chicagoland area. I work with many investors and I am ready to start investing in rentals myself. I am interested in the Rockford, IL area for the low prices and decent rental rates. This year I plan to buy 2-3 houses for 50k or less a piece then use HELOCs to recycle the money and buy more. Are there any holes in this strategy that I am not considering? I can't qualify for a bank loan until I am two years in the agent business so this is why I plan to leverage in this way.

Chicago, Illinois
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