HELOC... Yes or NO??

[Chad O.]

I have a HELOC available. Thoughts on reinvesting it into current house (fixer upper) or investing in another property to hold, flip, rent?? Orr should I not use it at all and avoid having to repay a loan?? Any feedback would be much appreciated my BP guys and gals. Thanks, Chad.

[Jacob A.]

A HELOC is going to be about your absolute best financing choice. Many banks are offering HELOC's at prime right now which is dirttttt cheap financing. There are probably hundreds, if not thousands, of threads on BP discussing various financing options. Absent spending all cash, you will not find a much cheaper option that a HELOC. Why not use the equity in your home for something useful!