Flipping

How To Finance A Flip

In this video we explain how to finance a flip using a home equity line of credit. If you are a homeowner looking to invest in real estate we absolutely think you should take advantage of this and get a line of credit. We share with you guys what a home equity line of credit is, step-by-step how to get one, and why we absolutely love using them for house flips, rental properties, and real estate investing.

You may have more equity in your home than you realize. Equity is not only gained by paying down your loan, it is gained by appreciating home values. Here’s a quick formula to determine how much of a HELOC you can qualify for:

(Home Value) X (.80) – (Mortgage Balance) = Line of credit amount (in most cases)

Even if you don’t have a specific flip/rental in mind to buy, lines of credit are great to have because they allow you to be able to negotiate with cash when offering on a property. This can help your offer win over others and increase your house flip profits by avoiding mortgage origination costs.

Do you use home equity lines of credit for your real estate investing? We’d love to hear in the comments how it has worked for you!

Here’s our most recent house flip: https://youtu.be/S0c56hiA0IU
Here’s a house we flipped using a home equity line of credit: https://youtu.be/dJ9KTHW78Hk

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#houseflipping #heloc #houseflip

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