Skip to content

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

119
Posts
60
Votes
Chris Connery
  • Rental Property Investor
  • Cherry Hill, NJ
60
Votes |
119
Posts

What Heloc payment should I choose?

Chris Connery
  • Rental Property Investor
  • Cherry Hill, NJ
Posted

So I am maxing out a HELOC on my primary residence to purchase my second investment property, an 8 unit.

Here's my question: Should I take the interest only payments at %5? Or roughly double my monthly payment by making it principal and interest amortized over 15 years? 

Here's my situation. I plan to sell my primary residence in about 5 years. I also plan to purchase more investment properties within the next 5 years. 

Thanks

Most Popular Reply

User Stats

663
Posts
536
Votes
Greg Parker
  • Realtor, Contractor, Property Manager
  • Montgomery AL and Kowaliga, AL
536
Votes |
663
Posts
Greg Parker
  • Realtor, Contractor, Property Manager
  • Montgomery AL and Kowaliga, AL
Replied

Interest only for maximum cash flow.  Just be thrifty with the cash.

business profile image
MGM Property Pros LLC

Loading replies...