For example: If your credit limit is $500, you want to carry a balance of $45.00.With this $45 balance would you never pay it off?

The way we counter those numbers to make it a great deal in Phoenix is to buy off market and take over the existing 3% financing.

Typically a HELOC is a better fit for a flip/BRRRR type of scenario so you can pay the HELOC off/down much more quickly.I have used our HELOC in both scenarios.

Looking around Jacksonville, Orlando (of course Disney is the attraction point), Fort Lauderdale or anywhere close to Atlantic. 

Might be overkill but it keeps things fresh and clean. 3 sets of everything, that way there is always a clean backup on site, while one could be at the off site laundry.

I am basing that off local comps and the fact that a 3 unit building that is smaller than mine directly across the street from mine is under agreement for 440k.

Purchase price: $605,000 Cash invested: $242,000 Sale price: $1,012,000 We converted the garage into the kitchen and took the roof off the garage and added a master suite.

It took off months later with many of the new buyers in the market consisting of NYC residents looking to get away from such a huge metropolitan area and into a NJ suburb in time for the next catastrophic event.

However, if it needs that much work you are probably better off going with a hard money loan and then doing a rate & term refi once rehabbed.

Paying off $100K on a loan of 6.75% is the same as investing $100K in an investment that returns a guaranteed 6.75%.