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All Forum Posts by: Sean Suris

Sean Suris has started 1 posts and replied 2 times.

Creative Real Estate Financing

Post: HELOC for repairs

Sean SurisPosted
  • San Antonio, TX
  • Posts 2
  • Votes 0
Thanks Mike, What would your thoughts be on taking out a home rehab loan (local credit union I belong to offers one) for a flip on this property? My thoughts were purchase property, finance repairs, flip for profit, and use portions of profits to pay off loan. Not sure if there are prepayment penalties on that loan or not yet
0 Votes
Creative Real Estate Financing

Post: HELOC for repairs

Sean SurisPosted
  • San Antonio, TX
  • Posts 2
  • Votes 0
Hey guys, Is it possible to purchase a property outright with cash and take out a HELOC on that property for repairs? Are there any other options that are more advantageous than this? My thoughts would be to treat this property as a flip but also explore implementing the BRRR strategy on it. Would a HELOC affect the refi process? Thanks in advance
0 Votes