Preferably the plan would be to pay the heloc off on the back end when we refi out of the construction loan or sell the property later once build is completed.

The original plan was to split the home and do a dual rental where one portion would be an Airbnb and the other a regular LTR, but after completing the rehab we decided to have it fully as an LTR.

The original plan was to split the home and do a dual rental where one portion would be an Airbnb and the other a regular LTR, but after completing the rehab we decided to have it fully as an LTR.

Details below...We need a FAST cash-out loan product that requires only the personal guarantee of my business partner (60% ownership) to be used for: completing the remaining rehab and getting the 1st house rent ready, paying off revolving credit accounts to get her credit score up, and funding the other projects we have in the works.To help bring you up to speed on what's transpired over the 11 weeks we've been in business...We started our business on Dec 1, 2023, leveraged our "then" good credit/high w2 incomes to bootstrap the startup, assembled a rehab team, and are now about 2 weeks out from the completion of our 1st rehabbed property.We've closed on 3 properties, all owned free/clear, and have paid for renovations with personal funds/credit.My credit score was 810, but is now 592, due to excessive debt but 100% on-time payments, therefore can't personally guarantee a loan.My business partner's score is currently in the 700s, but likely wont be for long, due to her revolving credit % continuously increasing, as we push towards the completion of the first rehab utilizing her remaining credit on her CCs.Recently, I started researching the underwriting timeline for DSCR loans. 

I am not necessarily trying to replace my 9 to 5 simply retire earlier than 65.I am 42 years old and I would need at least a year, if not two to save up the extra money needed for a down payment. 

Purchase price: $39,000 Cash invested: $250,000 Sale price: $420,000 Teardown and built a complete new home.

There are quite a few items that they failed to complete, but within the scope of work he was supposed to replace bedroom windows. 

about 5 years ago, i completely withdrew my 401k to invest in real estate.I have no regrets.I paid the income tax and 10% penalty.The withdrawal allowed me to invest in real estate earlier and get real estate investment knowledge faster.The appreciation and cash-flow that I received from the rentals > 10% penalty, income taxes paid, appreciation that would have grown in limited selection of mutual funds.I now have complete control of the funds.Best of luck in your decision.

I'm in the learn-obsessively phase, but sometimes simple things need explained to me. Scenario:I found a triplex in my area that I'm interested in. The potential seller is someone I know and doesn't do much with the p...

I have about 5 more years before building is completely paid off.In these situations I wonder if its better to just sell the building soon or repair.