Heloc for down payment
Hello all,
Im a new Investor, and need some advice. Please help!
I am looking to obtain a heloc on my single family investment property and use the funds for a down payment on another investment property to rent out.
Is this a practical strategy?
Heloc for down payment and closing costs. Then get a Tennant in place, then refinance and pay the heloc back.
Can you please provide and suggestions, comments, and feedback. It will greatly be appreciated.
Thank you!