Purchasing a property

[Timothy Davis]

Is using a HELOC a good idea to buy my first investment property?

[Timothy Davis]

Quote from @Juan V Lopez:

I think purchasing with a HELOC is a fantastic idea IF:

1) You are planning to refinance the property immediately after to pay off the HELOC and keep the investment.

2) You are planning to sell the property to pay off the HELOC.

If you are using the HELOC to add value to a property and then use the project proceeds to pay back the HELOC, I think you're in great shape. But I wouldn't use a HELOC to acquire a turnkey property or something where you can't add a lot of equity quickly.

Hope this helps.

 Thank you...that's the plan...