Tried to get a Heloc through Vectra.

I have two choices.Choice A: Get a HELOC and put an ADU in the backyard for 80k, then refinance on a 30-year fixed.

Alternatively, you could figure out a number that would work for a HELOC on the house you own free and clear.

I have been spending 4+ hours a day watching videos, reading, improving my credit (710+), searching for deals, running the numbers on 3+ properties / day, and in the process of opening a hybrid HELOC with 12-month 2.74%APR.

I'm trying to leverage what I currently have to create passive income.Option one: Use the current HELOC I have on my primary residence of 100k to fund a downpayment on one and then use the cash flow to pay down the HELOC.

(The whole life money is fully available immediately, at any time, for any reason and can be taken out tax free) I was also planning on getting a HELOC for short term financing deals or rehab on a brrrr.

HELOC might be a solution for taking funds out.

Ideally I’d like to fund the property with a Heloc, but I cannot because my mortgage was a piggy-back that’s still appearing on my credit report.

Which you should do anyways given the current rates (low) and the general trend for the last week (rising).2) HELOC.3) Preapproval.If you go 2 before 1, the refi will have worse interest rate pricing.

Use the proceeds to repay the HELOC on your primary and the rest can fund further investing.