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Updated over 11 years ago on .

Brandon Sturgill's profile image
Brandon Sturgill's profile image
Brandon Sturgill
  • Real Estate Broker
  • from Columbus, OH
  • Member since Apr 30, 2013
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Brandon Sturgill's profile image
Brandon Sturgill's profile image
Brandon Sturgill
  • Real Estate Broker
  • from Columbus, OH
  • Member since Apr 30, 2013
Connect
Brandon Sturgill
  • Real Estate Broker
  • Columbus, OH
1,770
Votes |
3,042
Posts
Real Estate Deal Analysis & Advice

HELOC to Cover Rehab?

Brandon Sturgill
  • Real Estate Broker
  • Columbus, OH
Posted
Here is my basic purchase plan: 3BR/2BA 1,300sq. ft. SFH Purchase price <$80,000 (target $75,000) at 60-70% of ARV Rehab/Resell/Holding/Fixed costs $15,000 Total loan ~$95,000 (70-80% of appraisal or purchase price) Comparables selling at $115-125,000+ So my question is how do I cover the rehab/holding costs? I have about $45,000 equity in my primary residence. Is it a decent option to do a HELOC? Or are there other/better ideas?
  • Brandon Sturgill
  • 614-379-2017
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