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All Forum Posts by: Meredith Parker

Meredith Parker has started 3 posts and replied 11 times.

Starting Out

Post: Best Use of a HELOC

Meredith ParkerPosted
  • Realtor
  • Austin, TX
  • Posts 15
  • Votes 6

Hi Everyone! I am brand new to BP and excited to get into the world of REI. I am currently in the research/educating myself phase and am also working toward getting my real estate license before tackling my first project. My end goal is to become a full-time real estate investor and be able to leave my current full-time job. I am nearing the end of the approval process to obtain a $250,000 HELOC on my primary residence. From what I've learned so far, it seems to me that there are 3 good options to use this money for:

  • Use the HELOC to pay all-cash for a property, rehab it and flip it.
  • Use the HELOC for down payments on more than one property, rehab them all and flip them all.
  • Use the HELOC to pay all-cash for a property, rehab it, rent it out, refinance, then repeat (BRRR).

Which of these options is my best bet to obtain my goal of investing full-time the most quickly? Are there options I haven’t thought of that would be a better choice? 

0 Votes