Looking for advice on taking on HELOC + Mortgage
I posted yesterday, but want to be more specific. I'm hoping to invest in a buy & hold property using a HELOC from my primary home as the down payment. I am not house hacking.
This means that's I will get less favorable rates AND will be covering a HELOC + second mortgage with the rental income, which seems difficult. My goal is to at least have positive cash flow while I build equity in the investment property.
Has anyone successfully purchased a buy & hold with this strategy? I’d love to connect.