Using a HELOC on primary home to fund down payment

[Brad Cherry]

We have a good amount of equity in our primary home, is it a good idea to use a HELOC on that home to purchase our first and possible second investment property?

[Joseph Firmin]

Hey @Brad Cherry, I disagree with Jason on this. I'd go HELOC. It gives you much greater flexibility, much lower closing costs, a low rate and doesn't make your mortgage payment increase on your primary residence (speaking from experience here). Additionally, I'd look into a 1st Lien Position HELOC that you use as your checking account also... I can give you more info on this, but this cash flow strategy has been a game-changer for me and my family.