Updated over 9 years ago on . Most recent reply
Newbie - I have $25k in a HELOC. Need advise on best way to use i
Hello everyone my name is Blake Billington I am a newbie in the Wichita, KS area and have been listening to podcast attending webinars and reading as much as I possibly can. I have recently got a HELOC from my Local Credit Union and am wondering if I should purchase a home outright with it, split that up on down payments on a couple different properties, or if I should purchase a more expensive fourplex and use that as the down payment. I understand that it's going to depend on how they cash flow but am on sure if it would be a good idea to tie all of that up on one property. Any advice would be greatly appreciated.
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@Blake Billington Welcome to BP! Have you seen this post
https://www.biggerpockets.com/renewsblog/2015/09/0...
Might be something to consider reading before investing in a 25k house. I might look at using that money as a down payment on something you might end up being able to cash flow and/or sell in the future. Good luck! John