Heloc Alternative Worth it or Not?

[Richard Cisneros]

I applied for a Heloc once got approved but last minute declined to sign they will only give my about $45k my home was under evaluated and the %85 the banks do didn't make sense and variable rate and as high as 7.5% with monthly payments...shoot at that time applied I had a fixed credit card and still do 6% fixed for 25k why would I let someone put a Lean on my home for that amount.

What I am trying to do is get some money to build a second home on my over 1 Acre Land so I can rent it out to pay for my low Mortgage as I am up there in age now 58yrs old.

So found this investor company that will give you 100% of what you owe on your Home vs what the Current Value is with NO MONTHLY PAYMENTS.  Here are some of the details:

Say you own a home that's
worth $250,000. You receive a 10% investment from Unison of $25,000 and
Unison gets to keep 40% of the appreciation. After seven years, you
sell your home for $350,000 which is a $100,000 appreciation.

At
that point, you’ll pay Unison $25,000 in principal return plus 40% of
$100,000, or $40,000. In total you would pay Unison $65,000. The
remaining $35,000 of appreciation profit is yours to keep.

All of
the equity you built up through mortgage payments is yours to keep as
well. So, for example, if you had paid your mortgage down by $30,000,
you'd walk away from the sale with a total of $65,000 in your pocket
($35,000 from appreciation + $30,000 from the equity you built by paying
down your mortgage).

So my Question is does anyone see this as a Red Flag or any concerns going this route to build my second house on my property?

Thanks in Advance.