Looking to BRRR Deal

[Manny Del Val]

Hi I just purchased a deal all cash and I am looking to get my money out. I have tried reaching out to Credit Unions for HELOC could use some advice as to the best way to get the money back. Really prefer a HELOC as I will only be charged for the money when I use it. I seen that the HELOCS are only giving 50% return I am looking to get 90% of my cash back if possible. If anyone has any advice or recommendations please let me know.

[Dave Skow]

@Manny Del Val 1) if the proeprty is a rental property - mist heloc lenders are only lending on primary residences ...there arent many rental HELOC lenders and the ones that are out there will have very low LTVS ( as you have found out ) 2) if the property is free and clear now - soem heloc lenders dont like to be in first postion 3) if property is your primary - helocs are going up to 80-85% cltv in many cases 4) Doing a cash out refinance with a regualr 1st mtg is likely going to be your best bet if the property is a rental 5) let me know if you would like a referal to a loan person and the location of the property