Which option do you see fitting best?

3 Replies

I have 3 options to use as my down payment towards my next SFR. HELOC from my primary home, which I initially leaned towards thanks to David Van Horn's opinion, with a 5.5% variable rate & I believe paid back over 3 years. Never done this before so still learning the ins & outs. Private money which would be approx a 15k note that I would pay back @7% over 5 years making it a lower monthly payment - Use my own money. For arguments sake
Not sure why I can't edit via mobile... cont ... For arguments sake using my own money doesn't affect my personal life & would give me more positive cashflow per month to build up for the next house as opposed to paying my investor back over 60 months. Anyway I was hoping to get some opinions for my plan to buy & hold for 30+ years & wanted to consider all options. Thanks in advance.

@Matt Lawrence with the way rates are going I wouldn’t want a variable rate right now. You’re gonna be paying much higher percentages in the coming years.

My vote would be your own money.

@Caleb Heimsoth yea I'm not a fan of variable rates with the likelihood of rates increasing 3-4 times this year. Thanks for the reply

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