Enkhmanlai Enkhbaatar posted about 2 months ago Hey guys i got my first rental property last year on fha loan. Haven't rent it for year now because of fha loan requirements. Now October is coming so i can rent it. My plan was to get home line of credit pay chunk payment in home line of credit and pay my mortgage faster. My second my plan was get the home line if credit and try to get second property but i will be leverage my self in the weird situation we are having. So im bit confused which plan i should take.
Alan Nelson Investor from Indianapolis, IN replied about 2 months ago If you have a nice, fixed, low-rate, 30-year loan, I wouldn't want to give that up.
Joe S. Investor from San Antonio replied about 2 months ago Option two sounds better to me. If you know how to buy another property using your line of credit that might be the ideal thing.