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Updated almost 6 years ago on . Most recent reply

Douglas Bonilla's profile image
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Douglas Bonilla
  • Flipper/Rehabber
  • from Texas
  • Member since Jul 18, 2019
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Douglas Bonilla's profile image
Douglas Bonilla's profile image
Douglas Bonilla
  • Flipper/Rehabber
  • from Texas
  • Member since Jul 18, 2019
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Douglas Bonilla
  • Flipper/Rehabber
  • Texas
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Personal Finance

HELOC vs Refi on first investment

Douglas Bonilla
  • Flipper/Rehabber
  • Texas
Posted

Need guidance on what's the wisest strategy to finance our first investment from an investors perspective. Various loan officers are saying either "refi on your home" others are saying, no "HELOC" is the best choice.

investment property is priced: $140k / apprx $7,500 in rehab. Rents are $1400 in that neighborhood.

Our homestead equity; $160k. We are looking to buy/hold. Please advise. Thanks.

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