Updated over 6 years ago on . Most recent reply
Fixed or Adjustable HELOC
Looking for some wisdom. I am a first time investor and currently have zero properties in my portfolio. I would like to take advantage of the next economic downturn - I believe we will see that within the next two years. So I was planning on taking out a HELOC on my primary residence and waiting for the downturn to buy. I am looking for advice on whether should I wait until that time and take out a fixed HELOC (payments start as soon as line is open) or take out an adjustable rate HELOC now (no payments until an amount is used)? Looking forward to reading what you guys think! Thanks ahead of time for the wisdom!