Using my HELOC to make aggressive cash offers on properties

[Thomas Kametz]

Investment Info:

Single-family residence buy & hold investment in St George.

Purchase price: $229,000
Cash invested: $45,000

Made an aggressive cash offer using my HELOC as a vehicle for payment since my primary is paid off. Got the property for roughly $30k under market value. Now will refi with a 75% cash out loan and use the monthly cash flows and other rental income to pay down the HELOC back to $0. From there on out it is all payday.