Homeowners looking to start!!

[James Hogan]

Looking for some insights and feedback about HELOC.

WE ARE BRAND NEW TO THIS!!

Pros and cons of HELOC?

This is our first time looking into the option.

Long term goal is to do the live-in flip concept. So we are thinking we might rent this current home and figure out a way to buy and move into the next home (hopes to just keep re-doing this process). - VERY OPEN TO IDEAS ON HOW TO DO THIS!

We own our first and current home for $133k - total left to pay now is $108k roughly.

We will have owned the home 3 years come July 2022.

We are looking at roughly $22k in HELOC and we want to (semi/minorly)

renovate:

Kitchen - look nice but on a budget - Again keeping in mind we may rent?

Full bath - basics nothing fancy (mainly paint and change a half wall of bead board to drywall)

Trim plus patch areas in our vinyl floor - not sure if it’s vinyl!!

Fully Add New:

Full bath downstairs - basics nothing fancy

Remove popcorn ceiling and maybe re-texture?

Change old light fixtures and replace w/ modern

Fix door frames x 3

Change out front door screen door

Any help would be great and we are DEFINITELY LOOKING TO NETWORK AND CREATE CONNECTIONS :)