All Forum Posts by: Chris Wilson

Thanks for your input. To further clarify, the investment property will be purchased with100% cash that was obtained from the HELOC so there would be no loan applications at the time of initial purchase.

Is it possible to purchase an investment property (duplex) in my personal name with funds from a HELOC that is on someone else's property (ie. parents / friends / investors)? Logistically, I assume I cash the check from HELOC in my personal account prior to closing than proceed to close with cash.

Will this method of financing affect a delayed financing refi in my name after the property has been rehabbed? (less than 6 months seasoning)

What are the tax implications? Can the person who takes out the HELOC write-off the interest from their taxes even though the funds are being used to purchase an investment property in someone else's name?