All Forum Posts by: Kemonté Bateman

Thanks all for sharing your thoughts and experiences. What I love about the dialogue, is everyone perspectives which pushes creativity when being strategic. 

After trying to make the numbers work for a townhome, at the end it just doesn't (for now). However, after recently looking into duplexes - it could make more sense to go that direction than a townhome. Still using a HELOC but putting 5% down to minimize the risk and interest payment - and yes, we also thought about using the tax return to assist to paying back the HELOC.

For us, we're not necessarily looking to "break the bank" but to just get in the game and if that means we're to break even in the beginning, we'll take that.  

Hi All - My wife and I have been considering taking a HELOC out on our home to start investing I've ran some numbers (using ChatGPT) seeing if it would make sense with the understanding that the monthly payments from the HELOC would need to be built into the monthly rent - thus feeling like it's a challenge. Our approach is to use 20-23% for the down payment and looking at townhomes $280k and under, being that the price points are doable, 2/3 bd 1.5/2 bath is what we're looking into.

We would love to hear from any and all that have used this strategy or in general!