You have a property with a HELOC and you want to know whether you should put into an LLC?

Shall I just open HELOC on my primary house in case I need cash?

We could get another $30k as a HELOC and $30k from a 401k loan if needed. 

My thinking is I will get a HELOC (bank has said I could get $43k) for 20% DP on a $80k-$90k property and rehab, and get preapproved for the rest (they confirmed that wouldn't be an issue either). 

My thinking is I will get a HELOC (bank has said I could get $43k) for 20% DP on a $80k-$90k property and rehab, and get preapproved for the rest (they confirmed that wouldn't be an issue either).

So if you want to beat all the tax delinquent marketers to the punch, look for people who have not paid their 2019 tax bill yet ( or in cali the first half of the year taxes) Mortgage companies typically require escrow accounts, so any tax records where the first half of the year is not paid probably either does not have a conforming first mortgage and could not afford to pay the tax bill, or has some other arrangement like a heloc or land contract.   

While we do not have a lot of cash on hand that we can use right now (around $30k), we would qualify for at least a $80k HELOC, and I would also not be opposed to loaning against my 401k as I have maxed that out every year since I entered the work-force after college (10 years ago).I'm continuing to read these forums and just started listening to the podcasts this morning. 

I am a little upset because had i known there may have been a 12-month seasoning period, I would have refinanced a year ago.Let me ask you this in that case: Do HELOC's also require 12 month seasoning if I were to use that instead of refinancing my 1st mortgage?

Took out HELOC and bought a house in Smyrna, TN.

Took out HELOC and bought a house in Smyrna, TN.