Updated almost 4 years ago on . Most recent reply
Using a HELOC to purchase rental
I am under contract on my first property. I used my HELOC to put a down payment on that property and financed the rest. I have some HELOC left after the purchase. I have a few questions.
1. What should be my next step and how long do I wait to purchase a second property?
2. How do I pay off the HELOC faster to possibly use it again or break free from the HELOC?
If anyone has used or has experience with this scenario I would love to hear your strategy or how you did everything to get more properties. Thanks