That can put you into a financial downward spiral and wreak havoc on your finances – all with your original equity on the line while attempting to build new equity.HELOCs, as we mentioned earlier, are also variable-rate products.

No, the article specifically mentions he leverages it into a $3m LOCIt was on Bloomberg:Sifakis, the Florida flipper, typically gets a $3 million line of credit from an investment firm for about every $1 million he raises on RealtyShares, giving him added buying power.Soooo, not sure how that works?

Most banks do not loan for what your intention is, but if you do own the land outright then you do have the opportunity to pursue a construction loan like Ryan mentioned.3. if your goal is to sell plans (approved I assume) then you have quite a bit of expense and months of city approvals/ meetings to go through before that is a reality.

Knowing what to say and what not to say also come into play and most sellers will screw that up to, though I admit so will many agents, therefore it is very important to find a good and highly experienced one.You mentioned not wanting to pay $900 more to list with an agen.

Like Darrell mentioned, one thing I started doing is scheduling my showings all at the same time.

I had an issue, though, and may be switching, most likely to one of the two I mentioned.

For discharge income: If debt > FMV = there is a debt discharge incomeIf FMV > debt = There is no discharge incomeSo, there might be two taxable gain/income Normal capital rate gain or loss: If basis< deemed sale value (lower of the FMV or debt - as mentioned above)- there is a capital rate gain.

The market i'm in is very saturated with investors, not to mention very pricey.

And yes, as you mentioned, this is complicated and I'll be working with a CPA throughout, thank you!

On my first wholesale deal, I did what you mentioned, and I spent a small amount $2K fixing the house up to make it more appealing.