Updated about 7 years ago on . Most recent reply
Home equity line of credit
HI. I'm looking at buying a second house to rent out. Im fixing my current house up right now to get it rented out. I owe 96000 on it and figure it is worth about 175000. I did the calculations for the house I want to buy and I need about 35000 for closing and down payment. Has anyone ever done a home equity line and is it a smart thing to do. Also what additional calculations should be done to make sure my cash flow and ROi is still where i want it.