Can You Get Rich Quick with "Other Peoples Money" ?
The Canadian Real Estate Investor
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Why You Shouldn't Borrow From a HELOC
Some wild West investors have been known to use HELOCs, which is a whole microly line of credit. Ospy and most lenders seem to be cracking down on people using borrowed money beyond just credit cards because that's just dumb. You're basically taking the same risk as the equity investor would be in a real estate deal. And that's why those hard money lenders are charging such crazy interest rates, like over 15%. Which can still be cheaper than equity though.
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