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Updated over 4 years ago on . Most recent reply
BRRRR USING HELOC EXPERIENCE?
Good afternoon Bigger Pockets family!
So, currently own 100% of equity in a property and have been looking on how to expand my portfolio in the real estate business. After doing research I found the BRRRR strategy using HELOC. Does anyone have experience using this method? If so, what did you learn, struggles, things to lookout for? Is there a better way to go about it? Etc.
Thank you guys so much in advance!
Most Popular Reply
Greg Dickerson
#2 Land & New Construction Contributor
#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
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Greg Dickerson#2 Land & New Construction Contributor
#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
@Samuel Cardenas HELOC can be a great strategy to Buy and Renovate but then you're stuck until you refi out with a permanent mortgage.
The advantage is you have the credit line ready to strike for a cash deal.
Disadvantage your cash is stuck in the deal.