Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Out of State Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 2 months ago on . Most recent reply

User Stats

3
Posts
1
Votes
Viola Robarge
1
Votes |
3
Posts

Retirement/investment property in Myrtle Beach

Viola Robarge
Posted

Hi all! My daughter owns a few long term rentals, so I have some real estate knowledge but I'm looking to invest in a short term rental that I can use in the winter months. What I want to do is take out a heloc of $100,000 on my primary home so I would have a decent down payment. My question is, if I found say a condo for $150,000 in Myrtle Beach, is it realistic for me to think that I could put the $100,000 from my heloc down on it, finance the rest and make enough money off it during the summer months to cover my heloc payment and the remaining monthly mortgage payment on it? Or is there a better way to do it? I want to use it for my own personal use in January,  February and maybe March. I'm tired of the cold and snowy weather in my area! Thanks!

Loading replies...