All Forum Posts by: Danny Valle

So a down payment and taking out a traditional mortgage is the first recommendation. That said, what percentage down is recommended and/or required, 10%, 20%, more…?

If HELOC is the second option, is the expectation or recommendation to pay it off in less than a year, less than three?

My wife and I have talked about investing in a STR and occasionally using it as a vaca home for ourselves. We own our primary residence (no mortgage), and we believe we can make good use of our equity. We also have cash set aside for a downpayment if needed. We are learning more and more about HELOC and cash out refinance.

What are some recommendations to proceed? This being our 1st time doing this, we also want to grow at some point and invest in other properties once we get going with the first.