All Forum Posts by: Brad Young

Thanks Roger and Kuba for that info. Roger - that's exactly what I was wondering about (but didn't quite know how to articulate). Definitely want to make sure my home isn't at risk. Kuba - thanks for the word on keeping a wary eye on the tax implications. Awesome intel guys!

Thanks very much, Bryan - I appreciate the word of caution. Definitely helpful.

Good advice - thanks Clayton. I appreciate it!

Excellent advice - thanks guys!

Hello BP! I've been thinking through ways to help beef up my cash reserves to purchase my 1st flip, and have been seriously considering opening a HELOC. Since you obviously don't pay anything (other than smallish paperwork fees to open) until you actually draw on the line, it seems to me to be a no-brainer to have open and available for when the time is right. Is there anything else I could be missing or not thinking about, that would be a negative to just having the line available? Any risk I'm unaware of if I use the same bank that holds my mortgage? Any and all feedback is welcome. Thanks in advance!

Hello BP! I've been thinking through ways to help beef up my cash reserves to purchase my 1st flip, and have been seriously considering opening a HELOC. Since you obviously don't pay anything (other than smallish paperwork fees to open) until you actually draw on the line, it seems to me to be a no-brainer to have open and available for when the time is right. Is there anything else I could be missing or not thinking about, that would be a negative to just having the line available? Any risk I'm unaware of if I use the same bank that holds my mortgage? Any experienced flipper or investor feedback is welcome. Thanks in advance!

Hello BP! I've been thinking through ways to help beef up my cash reserves to purchase my 1st flip, and have been seriously considering opening a HELOC. Since you obviously don't pay anything (other than smallish paperwork fees to open) until you actually draw on the line, it seems to me to be a no-brainer to have open and available for when the time is right. Is there anything else I could be missing or not thinking about, that would be a negative to just having the line available? Any risk I'm unaware of if I use the same bank that holds my mortgage? Any experienced flipper or investor feedback is welcome. Thanks in advance!