Heloc primary home for down payment of first investment property

[Account Closed]

Hi, relatively new to the BP community but have great drive to make leap forward into acquiring first multi family rental property. Still working on the market and where to invest but getting my ducks in a row first.

Is getting a HELOC on primary residence to come up with down payment of investment property a good way to go or are there better ways to come up with down payment?

Would love to get some feed back and guidance on the topic. 

Thanks in advance.

[Nathan Gesner]

Quote from @Account Closed:

Hi, relatively new to the BP community but have great drive to make leap forward into acquiring first multi family rental property. Still working on the market and where to invest but getting my ducks in a row first.

Is getting a HELOC on primary residence to come up with down payment of investment property a good way to go or are there better ways to come up with down payment?

It's an option, but it's just another method of borrowing money. A better option is to hustle, sacrifice, and save.

If you borrow against your main home and fail, you risk losing the investment and the main home.