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Updated over 7 years ago on . Most recent reply

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119
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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

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628
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526
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Greg Parker
  • Realtor, Contractor, Property Manager
  • Montgomery AL and Dauphin Island, AL
526
Votes |
628
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Greg Parker
  • Realtor, Contractor, Property Manager
  • Montgomery AL and Dauphin Island, AL
Replied

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

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MGM Property Pros LLC

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