Repayment of HELOC or HEL

[Raymond Murray]

Hi BP-So here is my question.I have a HELOC for 100K,I used 95k to buy and rehab a Multifamily which is fully rented now. I got cash in my saving,which I can use to pay back the HELOC immediately or I should just use my savings to get a next investment property and used rental income to pay HELOC.

Thanks for the response in advance.

[Tony H.]

@Raymond Murray Heloc rates are variable though. You may want to keep an eye on it.

The rates keep going up lately and it will eat up your cash flow sooner or later.