Interest Only Strategy Opinions?

[Chuck Ward]

This would apply to a BRRRR, Buy and Hold property strategy-- Anyone use a HELOC, (interest only) for a BRRRR with success for a multi-year length of time?

Seems that with a HELOC and positive cashflow, payments would accelerate the debt. If you had enough of these properties, you could then combine cash and accelerate those as each property is paid down, correct? And with the correct HELOC, you also have the needed funds for repairs. Why would anyone want a traditional mortgage or DSCR with the rates where they are?

Just looking for opinions- I can talk myself into anything....lol

[Alecia Loveless]

@Chuck Ward I have a 30 year mortgage that the 1st year is interest only. While it’s been helpful I figure it’s really only saving us about $300/month. Given the scope of the property and the eventual cash flow this just isn’t that much.