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Updated almost 6 years ago on . Most recent reply

Jesus Quebrado's profile image
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Jesus Quebrado
  • from Orange CA
  • Member since Feb 7, 2019
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Jesus Quebrado's profile image
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Jesus Quebrado
  • from Orange CA
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Jesus Quebrado
  • Orange CA
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Rehabbing & House Flipping

First time flipping

Jesus Quebrado
  • Orange CA
Posted

I'm doing my first flip but can't decide either to go with a hard money loan(11-15% interest) or get a HELOC loan? Any tips or recommendations?

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Bob Okenwa's profile image
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Bob Okenwa
  • Real Estate Agent/Investor
  • from Peoria, Arizona
  • Member since Dec 10, 2016
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Bob Okenwa's profile image
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Bob Okenwa
  • Real Estate Agent/Investor
  • from Peoria, Arizona
  • Member since Dec 10, 2016
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Bob Okenwa
  • Real Estate Agent/Investor
  • Peoria, AZ
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Bob Okenwa
  • Real Estate Agent/Investor
  • Peoria, AZ
Replied

HELOCs are reusable and typically carry a lower interest rate. If you have enough money in the HELOC to purchase and renovate a property, it would be more prudent to use the loan with the lower interest rate.

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