Purchasing rental property with a HELOC
Hi everyone,
I have been watching many YouTube videos, particularly some by a real estate investor by the name of Michael Lush. One of Michael's strategies is to buy your primary home using a HELOC loan, then putting all your monthly income to pay off the loan, while using the same loan as a checking account to pay your monthly bills. This strategy is suppose to cut down a 30 year mortgage in approximately 7 1/2 years as long as you put more money than you spend. The word "discipline" is also empathized throughout the video. I was wondering if anyone out there has tried his strategy and whether it works....