HELOC Deal Analysis

[Panos Coufos]

When pulling from a HELOC on an existing property to fund a down payment on a new investment property, do you count the payment on the HELOC against the deal analysis on the new property or against the cash flow numbers of the property it's being pulled from?

It seems like when I run the numbers,  if I count the payment toward the new property it doesn't pencil out. Existing property cash flow remains positive though...this is based on true net cash flow...not just gross revenue. 

Thanks!