Hey Jay! Such a great quality video but I have such a hard time understanding how you feel like you are getting ahead by using a HELOC? Can you tell me when you have used one that has worked out well for you? How many flips have you done?
Hi! A handful, and I am using it to build a new construction project right now. I only use it short term, and it allows me to keep money in longer term assets like ETF's while still having access to some capital that I do sometimes need to invest in Real Estate. Thanks for watching and for commenting!
Thank you! What if a family wants to bring bring in two more foster kids that are related and they need to use a HELOC for about $15k to finish addition and can pay off within a year?
Currently just have a 30year mortgage with 2.75% interest rate, with 250k in equity. I want to get started in buying either a home to fix/flip or just buy a rental? Any advice? I’m new to this. Thank you
Finally Someone that understands that a HELOC for a fix/flip short term is a strong choice.
Yep, people are crazy with their HELOCs sometimes. Thanks for watching!
Hey Jay! Such a great quality video but I have such a hard time understanding how you feel like you are getting ahead by using a HELOC? Can you tell me when you have used one that has worked out well for you? How many flips have you done?
Hi! A handful, and I am using it to build a new construction project right now. I only use it short term, and it allows me to keep money in longer term assets like ETF's while still having access to some capital that I do sometimes need to invest in Real Estate. Thanks for watching and for commenting!
@@JayCosta Would you be getting a conventional loan once the property is completed or is your plan to sell at completion to pay off the HELOC?
Thank you! What if a family wants to bring bring in two more foster kids that are related and they need to use a HELOC for about $15k to finish addition and can pay off within a year?
If you can pay it off within a year go ahead. Thanks for watching!
What are your thoughts on using HELOC to pay off mortgage principal ultimately reducing the term?
I dont like it.
Currently just have a 30year mortgage with 2.75% interest rate, with 250k in equity. I want to get started in buying either a home to fix/flip or just buy a rental? Any advice? I’m new to this. Thank you
Use the HELOC for a fix and flip or for a down payment on a BRRR method purchase. let us know how it goes and thanks for watching!
How long can i hold a HELOC with no charges or interest? Thanks!
You start paying interest right away once you have a balance. But if you have a zero balance, it doesnt cost you anything. Thanks for watching!
Nice video , where I can get bank o who do I HELOC .
Gracias
Look for a credit union in your area.