Updated over 5 years ago on . Most recent reply
Using HELOC to Purchase New Property
Hello,
I am new to BP and to RE investing and am hoping for some advice and how to grow my investing portfolio.
I recently bought a two bedroom condo in North Park and house-hack the spare bedroom. I am trying to figure out the best way to leverage my current property in to another investment and have done some research on HELOC's. I have the idea to use a HELOC on my current property to buy my next rental property but am still not sure if it is possible / recommended to use a HELOC as a down payment for an investment property.
Is there anyone one who has experience doing this who can give me some advice?