Updated almost 7 years ago on . Most recent reply
Using HELOC to purchase investment property??
I have ZERO money to put down on an investment property, but have around 40K in equity in our home. What would be the BEST route to use a HELOC to purchase an investment property strictly for as a rental (do not want to flip)? Thank you for any suggestions on helping us to attain our financial freedom!
-Jeremiah
Most Popular Reply
Every deal is different but I did just what you are describing about 10 years ago. I took out a HELOC on my principal residence and bought a 4 unit bldg. nearby. It worked out fine for me and the new place is cash positive.