first and foremost most of the national banks no longer will do HELOCs on NOO (non-owner occupied) properties. infact, i can't think of any that DO still do that. a cash-out refi would be your best bet if you qualify. also, 'good personal credit' will need to be 'excellent personal credit'.

With the easy HELOCs even that went away.

My long term goal is to take out HELOC on the new house and use it for investments.Please let me know what you think.Thank you, Paul

I have great credit, and around 100k HELOC Basically is the REO agent correct that only cash buyers should pursue these types of properties, or is he Bsing me and just wants cash buyers because its easier to deal with?

I have a HELOC that I can use if I want to.Is the property your looking at in Trenton?

I wanted to ask here before finding a Broker, etc...Thanks and I was hoping I could get a HELOC.

- What if there is a primary value of $400,000 and the mortgage was say, $300,000, so someone took a $100,000 HELOC?

Back in 2008, I took $110K HELOC from my personal residence and bought two SFRs near Austin, TX using financing with 20% down.

I purchased these with my HELOC, which is prime - 1.01% or 2.24% right now ****I DO NOT ADVISE USING VARIABLE RATE FINANCING, EXTREMELY RISKY**** But I view that we are in deflation and that rates are going to stay low for awhile, actually several years is my personal view (thus my 3 year time frame).

I have solved this by having my brother purchase the lien with my money and sell the tax deed to me a month after getting it and therefore I recieved the full clear deed with which I was immeadiatly able to get a HELOC which I used to fix up the property.