@Dustan Marshall First of all, I'm impressed that you were able to find a bank willing to do a HELOC on rental property - that seems to be pretty unusual (most banks only do HELOCS on owner-occupied properties.Anyway, usually a HEL is a fixed loan amount often at a fixed interest rate.

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I got that impression from our Podcast with Ryan Lundquist.

People here are not impressed by granite countertops, etc.

And don't forget to throw up a photo on your profile, to help us get to know you.

Please go check out my profile which explains me a little bit and please disregard the geeky, nerdy, goofy, pic... hey I can't help it... that's just what I am... :).

Nice deal, looks like a pretty simple flip with very healthy margins.Especially impressive because it appears to be an MLS find?

I've had this experience, and you can check my profile to see when I got started.I'm no expert, but I will reply from my short experience.1) Read and listen to:http://www.biggerpockets.com/renewsblog/2013/08/15/wholesaling-business-lamar-cannon/http://www.biggerpockets.com/renewsblog/2013/08/29/flipping-wholesaling-plan-sam-craven/2) You're not in the business of finding buyers for the sellers.

Hello BP Community,My name is Lucas Bennett, I am 28 years old, and I would like to connect with all of you.I have been reading the forum posts pretty religiously for the last 6 months or so, and I finally decided to make a legitimate profile and introduce myself.I am a big believer in learning by doing, and have worked on a couple real estate deals so far that have already taught me (sometimes the hard way) more about this industry than I thought I would ever know.

You can click on the ‘vote’ button if you like someone's post or is helpful, and there are ‘awards’ to earn on your profile.