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Make sure you have the right property insurance while the property is being worked on and an investor friendly lender or local credit union can help you refinance or get a HELOC.To Your Success!

Hi Joe,Using a Home Equity Line of Credit (HELOC) on your primary residence can be a practical and low-cost way to fund flips, especially since the terms you mentioned include only a $200 yearly fee.

The only things that matter are credit, down payment, reserves, and DSCR ratio! 

You don’t need necessarily need to build credit.

They have told me that assuming credit, debt, etc check out fine that I will have enough equity in the land to make the downpayment for the cabin that I want. 

The 8 unit has required more time and energy because it had been poorly managed for years.

I'd love to have a small line of credit on the property before the end of the year to cover any other repairs or upgrades that will need to go into the property.

Perhaps slightly higher from an alternative lender but definitely not from a credit union and expect much higher fees.

Either way its good to buy end of year as most builders and sellers are offering seller credits or builder credits to use towards closing costs or to buy a rate down to help get a lower payment.Even if you wanted to buy a strater home like a 2-4 unit as a primary again you only need to put 5% down.