1st investment - buying rental property using HELOC. Good / bad?
Looking to start investing in real estate. Want to purchase a rental property for my 1st deal using a HELOC from my primary residence. I have a lot of equity in my current residence and not a lot of cash on hand.
Is this a good idea? Will it only work if my HELOC covers the entire purchase price of the rental property? Any other creative ways to get into the market with little cash?
Thanks in advance!