Updated over 8 years ago on . Most recent reply
Using HELOC to put 20% down on rental
I currently own my primary home free and clear. I am considering using a heloc to provide the down pmt for a rental.
My plan is to buy 1 rental by the end of this year and have 3 by the end of 2018. I am trying to see the best route for me to leverage the properties and finance as I go along. I obviously would like to get to the point where I have my heloc at 0 and out of the picture.
Running a detailed analysis from this site, I should cashflow $300/month on a 200k home including the heloc payments.
Any advice is welcomed.
Most Popular Reply
@Ryan Cartier, with all due respect to @Account Closed, I DO recommend this route.
Reason #1: How ELSE would you be able to buy an investment property right NOW?
Reason #2: You should only be looking for BARGAINS that suit BRRRR anyway! Cheers...