Apparently this is a common misconception, and from googling, apparently they have a whole page dispelling this misconception: https://www.blackrock.com/us/i... 

One of the misconceptions about HELOCs is that they are only 2nd lien loans.

I hold no misconceptions about how hard this is - yes, I'm sure there will be many "no's" from potential cash buyers, but it also seems to me that if you do your homework; if you present deals in a way that creates a "win-win" situation for all; and if you are honest in your dealings, success will come.

@Troy Patt this seems to be one of the most common questions on the forums lately, so here's the response I've posted in other threads:One of the biggest misconceptions by inexperienced RE investors is that new houses are inherently less costly/less headache to maintain than older houses.

One reason for the high dropout rate among new agents is the misconceptions of what it takes to become a successful agent.  

This great article attests that most people have a huge misconception of Cleveland until they visit and see all the great things the city and surrounding areas have to offer. 

The misconception about this product is that there are some lenders out there that have it available, but not the way you would want it.

biggest misconception in all of BP land and that is owning rentals takes no work.. in A class I get that.. but not B through F and when you get to C D its a full time job if you own any number of them and self manage. which you pretty much need to do  if your going to get anywhere in less than 30 plus years.

The point of the article was to introduce a thought experiment to help folks who financially suffer under common misconceptions, as millions of aspiring homeowners are romantic about real estate, and spend more than they budgeted for that bigger house or bigger yard, or a chefs stove that is a total and utter SUNK COST, and then justify it by parroting that "Your home is your biggest investment" expression.

Originally posted by Account Closed:low taxes (except Texas)This is such a common misconception.