HELOCs for rental property are back! Yep, you heard that right. After years of massive equity growth and a housing market spree never before seen, lenders are finally starting to open up home equity lines of credit on investment properties. For some investors, this is a HUGE deal, but for others, the incredible benefits of a HELOC probably haven’t been discovered yet. So, here’s what you need to know:
HELOCs, home equity lines of credit, allow you to use the equity in your house to improve your properties or buy more rentals. Don’t think you have enough equity for a HELOC? If you bought your home anytime before 2020, there’s a good chance you could be sitting on hundreds of thousands in unused equity that could be funding your next real estate deal. But, before you call your local lender and ask for a six-figure payout, you MUST know the drawbacks.
Christian Bachelder and David Greene explain exactly how you can access your HELOC, where to find a brokerage that will get it done for you, and why you should NEVER use your HELOC funds for certain investments. These investor HELOCs won’t last long, so don’t hesitate to tap into your home’s equity!
00:00 What's With the HELOC Hype? 01:10 Why HELOCs Are Hard to Get in 2023 03:48 HELOCs on Investment Property Are Here! 09:17 One BIG Risk 10:03 HELOCs vs. Cash-Out Refinances 10:51 This Won't Last Forever!
