All Forum Posts by: Chad Chase

@Rob K. Thanks Rob! Neat trick👍🏻 I could pull it off for sure.

@Claudette Brown-Mendoza thank you! Totally agree, HML was my first go to but if I can avoid it i certainly will.

@Joseph Bui thanks! Looking at southern Maine right now, hopefully expanding after we get some momentum.

@Chris Seveney definitely need to be cautious! Seems like the best way to avoid added fees, points and middle men though.

@Greg Kasmer thanks Greg! Yes, currently searching for interest only helps.

Thanks Brittany, I am ok with the risk mostly because of a health back up income. It is primary residence. Just trying to figure out if it is truly the best way for us to move forward with our company.

Hi all! Just digging in to this forum and learning a lot. 
Have recently started a renovation company with a friend, both of us successful business owners and talented in the trades. Also both enjoy freedom in our schedules. My question is, for a fix and flips, I'm considering financing the whole thing with a HELOC instead of hard money. I have 100% equity in a home valued at about 400k. Secure income from a thriving business as well. My partner is considering the same on his home, however, he still owes about 100k with 300k equity.

Is this a wise strategy? Is there another way I should be considering? Thanks for any and all advice!!