As a current home owner, I've been considering buying a multifamily property for 3 years now. The real estate market in my town is really hot and most properties don't even hit the market. I need at least 25% down, should I wait to have the full 25% or should i take a line of credit on my home for the down payment?? Any advice is helpful Thanks!!
It would depend on the property and the financials of you and the property. However leveraging some of your equity (don't max yourself out), is a great way to get into investing. Make sure when you calculate your finances you include more than the minimum payment of that HELOC. Generally they are interest only payments, you will want to pay down the principal
@Sarah Brown thanks I appreciate the input