Updated over 6 years ago on . Most recent reply
Looking for advice. Cash out refi/ HELOC, or just save?
Looking for advice on best way to go about buying my next investment property.
I own a condo which is worth about 160k, and owe 110k.
I just purchased a single family residence for my primary residence 3 months ago.
I’m looking at buying a property via the Real Wealth Network site, which matches you with a company that provides a turn key investment.
The area I’m looking in looks like I would need to come up with about $30k cash.
What’s the best way to tap into my investment condo to fund this second property?
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Corby Goade
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Corby Goade
#2 Private Lending & Conventional Mortgage Advice Contributor
Property Manager
Agent
Pro Member
#2 Private Lending & Conventional Mortgage Advice Contributor
- Investor
- Boise, ID
HELOC every time. Just make sure your purchase is a good enough deal that you can refi in less than a year and pay off the HELOC. Good luck!
- Corby Goade