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Updated almost 2 years ago on . Most recent reply

Thomas W.'s profile image
Thomas W.'s profile image
Thomas W.
  • Rental Property Investor
  • from Chicago, IL
  • Member since Dec 17, 2015

User Stats

50
Posts
13
Votes
Thomas W.'s profile image
Thomas W.'s profile image
Thomas W.
  • Rental Property Investor
  • from Chicago, IL
  • Member since Dec 17, 2015
Thomas W.
  • Rental Property Investor
  • Chicago, IL
13
Votes |
50
Posts
Private Lending & Conventional Mortgage Advice

Looking for advice on taking on HELOC + Mortgage

Thomas W.
  • Rental Property Investor
  • Chicago, IL
Posted

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.






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