Ask Marco - What Terms Should I Expect Using a HELOC or Business Loan for My Next Property? | PREI 231

And today's question comes from Jason. He says, dear Marco, we are looking to take out a HELOC, a Home Equity Line of Crediton our primary residence for the purpose of buying our next home. Since I am a licensed residential contractor, I would like to find a new construction opportunity or a fixer upper fixer property.

My question for you is two parts. First, would we be able to get better loan terms as a construction loan / line of credit, through my business or would it be more favorable to finance this as a personal loan? Secondly, there are a lot of HELOC Home Equity Line of Credit products out there. What terms should we be looking for in a favorable agreement and are there terms we should try avoid?

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