To HELOC or get a traditional mortgage

[Bobbie Russell]

Ok Experts here's a question.

I'm a newbie investor and just purchased my 1st investment property 3 weeks ago and am looking at 2 additional properties.

I am looking at purchasing an investment property $190,000 offer. (Needs about $50,000 in rehab).  Comps (actually sold) are in the range of $260,000-$270,000. 

I have approx. $400,000 in equity in my primary home and am looking for what's the best way of financing this new fixer-upper. Do I get a HELOC on my primary home to use to pay for the investment property or do I get a traditional mortgage with 20% down?

What's the best route?

Thoughts/Opinions?

[Tim W.]

I like the Heloc route due to prepayability and not touching your current mortgage terms (assuming it's a low rate). 

you can also do a hard money loan