What is a HELOC and how does it work for real estate investing? (Pros and Cons)
HELOC stands for Home Equity Line of Credit, which is a type of revolving credit that uses the equity in a home as collateral.
28 Mar 2023 17:09
HELOC stands for Home Equity Line of Credit, which is a type of revolving credit that uses the equity in a home as collateral.
28 Mar 2023 16:43
As a homeowner, you're likely aware that your mortgage is one of the biggest financial commitments you'll make in your lifetime.
We can typically close in as little as 7-14 days once we have a signed agreement. The exact timeline depends on your needs and any title issues, but we can work with your preferred closing date.
First, you submit basic information about your property. We'll schedule a quick inspection or virtual assessment, then present you with a no-obligation cash offer within 24-48 hours. If you accept, we handle all paperwork and can close at a local title company on your timeline.
You'll typically need a photo ID, proof of ownership (deed), and any available property information. Our team will help gather any additional required documents for
We analyze recent comparable sales in your area, current market conditions, the property's condition, and estimated repair costs. Our goal is to provide a fair offer that reflects the home's current market value minus necessary improvements.
No, there are no fees, commissions, or hidden costs. The offer we present is the exact amount you'll receive at closing.
Yes, we typically cover all standard closing costs including title insurance, recording fees, and transfer taxes, though this may vary by location and situation.
Our offers are typically 70-85% of after-repair value. While this may seem lower than listing price, you avoid realtor fees, repairs, staging costs, carrying costs during the sale period, and the uncertainty of traditional sales.
We purchase homes nationwide in all 50 states, though our primary focus areas are Southern and Midwest States. Check our Buyer's Page to see where we're focused. Contact us to confirm we're active in your specific location.
Key advantages include: no repairs needed, no showings or open houses, guaranteed closing date, no realtor commissions, we cover closing costs, much faster timeline (weeks vs. months), and certainty of sale without worrying about buyer financing falling through.