Just came across a mailing from ownwell.com that targeted a California property I own.

Some make it easier though depending on how long you have been licensed. 

Originally posted by @Kisa Adderley:Rain City Capital only charges 8%.We currently have 3 flips with ES & 1 with RC. 8% is certainly easier on the wallet.I think you mean Magnolia, which shares similar ownership to RCP? 

Food for thought: it is easier to get a loan of any sort on the owner occupied part, to include HELOCs. 

If you are purchasing an asset then you could cross collaterize both but if $ for non secured asset may be easier to look to sell the loan.

(most DSCR lenders only require 3 months of seasoning to refi out of a bridge loan)This is a lot easier to do with rehab projects but can be done without if you can find the right deals. 

I believe the property could reach my original target price if interest rates come down.My question is whether it's better to rent the property and use the 10% HELOC as my "mortgage" or do a 7.5% cash-out refinance.The HELOC has the advantage of no closing costs and potential cash flow if I don't pay down the equity.

I am targeting the small contractors that need one maybe 2 offices and a couple thousand sqft of warehouse. 

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

As a result, it is much easier to talk about which areas you may want to avoid.The East side and near the Fair Grounds are commonly considered rougher areas.