All Forum Posts by: Stephanie Ockunzzi

Would like to find a house built in the 90s that really needs just needs cosmetic work and updates. Small 1200 sqft or less, so maybe 20K down using cash and use 10-15K HELOC. 2-3 months rehab time.

We have about 80K equity in our primary home and 60K in the bank. We would like to start flipping. My thought is to use our cash to buy or use for the deposit and then get a home equity loan for the improvements. Is this a good strategy? Am I putting our primary home at risk?

We have about 80K equity in our primary home and 60K in the bank. We would like to start flipping. My thought is to use our cash to buy or use for the deposit and then get a home equity loan for the improvements. Is this a good strategy? Am I putting our primary home at risk?

Would you mind explaining the financing part further? Basically from beginning to end. That would be wonderful.

We have about 80K equity in our primary home and 60K in the bank. We would like to start flipping. My thought is to use our cash to buy or use for the deposit and then get a home equity loan for the improvements. Is this a good strategy? Am I putting our primary home at risk?