How to properly use a HELOC to help finance first investment property
Newbie here, hope everyone is having a lovely day! I am currently educating myself and looking to get my first investment property this year. My current situation is, I own my primary residence in South Florida and I'm sitting on around $500k in equity. I'm currently looking to get a HELOC on the property for a down payment and get a mortgage to finance the rest. My question is, about how long do I wait to refinance and pay off the HELOC, and, is that the best way of going about it? Just trying to plan my strategy so any recommendations would be greatly appreciated! Thanks in advance!