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Updated 3 months ago on . Most recent reply
Using a heloc to brrrr
Hello everyone im a newby, this is my second investment property.I'm using a heloc from my primary residence to buy an investment property for $145k and I'll use my own cash for the $15k in renovations. And the ARV will be $240k and im trying to figure out my exit strategy now. Everybody I have talked to says there is a 6-12 month season period before I can refinance and get my money from the heloc back out. Is there any other options anybody else would do or would you just wait 6-12 months to refinance to start on my next venture?
Thank you for the help
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#2 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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#2 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Lender
- USA
Hey Trent - Have you looked into DSCR loans? You can under 6 months. Happy to connect with you. Feel free to send me a DM.