Updated about 4 years ago on . Most recent reply
HELOC on primary residence
I am currently building my primary residence here in Ohio. My home will be complete in November of this year. Total cost of the build was 425K. I will be carrying a 350K loan on this property. As of January of 2021, it was estimated value was 455K but I anticipate it to be valued more closely to 470K at time of completion. Is it wise to use a HELOC on my primary residence to begin rental investing? We plan on beginning investing in spring of 2022.