Preparing for my first deal

2 Replies

Hello BP! I’m just getting things started and want to get into ‘buy and hold’ properties to bring in some additional cash flow. My wife and I have a decent amount of funds set aside, but I was wondering if it makes sense to open a HELOC on our primary residence and utilize some of those funds as well for a down payment. My thought is that as long as we can cover the HELOC payment from the rent that we would be collecting we’d be fine. Thoughts?

Go for it! As long as the numbers work. I have clients purchase with HELOC or margin accounts all the time.