Should I use HELOC to purchase short term ocean front rental

[Brad Evans]

Should I take a HELOC on my primary residence that I purchased in 2021 to use for down payment on a oceanfront condo in Myrtle Beach SC for a short term rental?

[Philip Barr]

Good stuff, Brad. I hope everything goes well with the deal.

I agree with some of what has been said here, it really depends on weighing the income potential of the property versus encumbering your home to make this happen.Many investors do it, but it is a matter of sitting down and really weighing the pros and cons of the investment and doing research.


Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.