credit line v. HML


general question: HML v line of credit

LOC: I can get around 50-80K. secured cards then convert to cash. 10 points paid out of LOC. I can reuse as much as I want; pay only for what I use at 10-11%.

HML: 9-10% int only for 9 months. 5 point rolled into loan. 100% rehab and acquisition costs covered. no down payment (100% financing).

not sure if I can refi out if I buy cash with LOC. can do so with HML

which is best to do? Goal is to acquire then refi into a long term loan (not a cash out) , rinse and repeat . could sell as well but would prefer to build portfolio.

any thoughts from those out there doing this?


if you buy with your own cash you will have some limitations on when you can refinance, you will have to hold the property for (please correct me if I’m wrong) a year before you can finance based on appraised value