Updated over 8 years ago on . Most recent reply
What is your HELOC Strategy?
What is your HELOC strategy? I have two rental properties and I’m tempted to find a bank to open an equity line of credit so I can expand my portfolio. However, some investors I talk to say that is too risky. Others say it could be a good strategy but I don’t exactly know how people are using it. For example, are investors paying the HELOC off in a short time frame after using it for a down payment, or paying cash for properties with the credit and refinancing, or something else? I’m excited to learn what other investors are doing. I acquired both of my current properties using hard money and refinancing and now I’m looking for ways to use my equity that I captured.