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Starting Out
HomeForumsStarting OutHELOC on primary residence to invest?
Derek Cirino's profile image
Derek Cirino's profile image
Derek Cirino
  • Rental Property Investor
  • from Boston, MA
  • Member since Oct 2, 2019
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Derek Cirino's profile image
Derek Cirino's profile image
Derek Cirino
  • Rental Property Investor
  • from Boston, MA
  • Member since Oct 2, 2019
Connect
Derek Cirino
  • Rental Property Investor
  • Boston, MA
3
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9
Posts
Starting Out

HELOC on primary residence to invest?

Derek Cirino
  • Rental Property Investor
  • Boston, MA
Posted Dec 5 2019, 12:00

So I am getting closer to jump in with my first investment. I have cash ready to go but I also have the option to pull out a significant amount of equity from my primary residence by using a HELOC. My question, is it a terrible idea to use a HELOC on 1st as money to invest?

The way I understand it is owning a home is a forced savings account.  I'd rather take out that money and put it to work...

PS: The HELOC rate is 3.25%

Thank you

-Derek

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