Hi all,
let’s say I buy a home today. How long must pass before I can get a home equity loan or LOC?
For example,
I buy a 100k home and put 20k down. I owe 80k. Can I get some/all of that 20k out soon for the next property?
Trying to develop a strategy for picking up homes.
thx
if the property appraises, there should be no wait time
why pay the extra fees for the home equity loan when you can get the property in contract under a corporate name, as contract vendee, and then flip the contract out to yourself and you can work the numbers in between. As long as you have a good appraisal you can work it that way.
you are speaking greek to me 
Did not know I could buy a property with a brand new company with say 20% down. Or perhaps you mean something totally different.
Well why not structure the deal and get your money back at closing with a grant or seller consessions if the seller is willing to pay. My lenders do not mind as long as this is all disclosed on the HUD 1 Settlement Statement