Are you looking to add single family homes or multi-family properties to your portfolio? 

Hello everyone I am curious does anyone know or experience if it's possible to obtain a heloc line of credit with a habitat for humanity home?

You are still covered if they decide to sue you after you have canceled your policy due to the sale of the home because your policy is written on an "occurrence" basis.

You would need to put the home in oyur name which could have tax consequences then you are getting a loan to buy an asset which most likely will not cash flow.

I am acquiring an assisted living home (RE+business).RE appraised for $1,320,000Business for $80k.I have the RE portion already financed through banks but am needing $80k for the business to get the deal done.I’m looking for $80k short term loan for at least 6 months so that I have enough time to get a more stabilized business loan.

Hi Cindy, Would the heloc be for a primary home or investment property? 

@Ernest Fox I see 6 properties in Pigeon Forge, TN for sale that could gross at or above a 15% yield.There are 31 such in Gatlinburg (a much larger area).

Also, an agent will need more time than your typical home insurance to work on this for you.

Most PM companies have a requirement where the tenants income needs to be 3x the rent per month.There’s more to it than that - but it’s a lot to type out.It’s a popular strategy for those looking to get into STR/MTR and can’t afford or can’t qualify to purchase a home themselves. 

With plans calling for a 3/3 unit and 2-2/2 units and similar triplexes trading north of 750k this is a home run investment to keep in his portfolio.