What is a HELOC and how does it work for real estate investing? (Pros and Cons)

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What is a HELOC? How can it be used for real estate investing?
HELOC stands for Home Equity Line of Credit, which is a type of revolving credit that uses the equity in a home as collateral.

This video explains how a Home Equity Line of Credit works, how to get a HELOC and it's pros and cons.

Unlike a traditional loan, where you receive a lump sum of money and pay it back over time with fixed payments, with a HELOC, you have access to a line of credit that you can draw on as needed.

HELOC's are typically offered by banks, credit unions, and other financial institutions. You can use the funds for a variety of purposes, such as home improvements, debt consolidation etc.

A HELOC can be used to invest in real estate, but there are some important factors to consider before doing so.This video gives you some ideas about what to consider when choosing to apply for a HELOC.

Consider the advantages and disadvantages of a HELOC explained in this video before getting this type of financing.

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