Hello everyone, I just wanted to share and get some feedback from other investors who have used their personal home to get a HELOC and start buying investment properties.

I got a HELOC on my home for $150k. Was able to buy 2 duplexes cash, and was able to negotiate a pretty good deal I think. The issue I have been running into now, is getting mortgages on the rental properties to fund my HELOC again, to continue buying. I have found a few banks willing to lend 70-75%, but the rates take quite a hit.

Investment property

Multi-family

Small loan amount ($50K)

The last Lender I was working with, had my closing costs at about $4600 + prepaids.. $56k loan, I would net about $49k. That is almost 10% in closing costs! Way too high in my opinion. I ended up cancelling all my applications and just doing a personal home refinance for the extra money. My plan is to stockpile as much income as I can from 4-5 paid for rentals and eventually build enough cash to buy another rental. My house payment has gone up, but all in all, it's a better deal than what I would've gotten with the seperate mortages on the investment properties.