All Forum Posts by: Parker Larsen

@Drew Blakely Thanks Drew! Yeah I agree. With my situation I'm still looking for where to invest since I'll most likely need to go out of state. So maybe a HELOC makes more sense?

@Dan Milinazzo Thanks Dan, this is really helpful! This would be a scenario where I'm searching for a deal out of state, so I'm not quite sure where I'd put the money yet, so maybe a HELOC makes sense

So I'm having some analysis paralysis with looking at a Cash out refi vs a HELOC on my primary residence.

To paint a picture, living in a townhome and will rent it out when we move in 2-4 years. I want to take advantage of the equity and invest in a property. I can do a cash out refi and increase my payment nearly $500 a month or I can get a HELOC.

The HELOC is appealing because I can use it when I find a deal and I only pay back what I use. But it also seems very risky to borrow against my primary residence. On the other hand, the cash out refinance would increase my payment to a point where I would cash flow only $100-$200 when I end up renting the place and moving out.

Anyone have experience with either? Do you prefer one over the other?

So I'm having some analysis paralysis with looking at a Cash out refi vs a HELOC on my primary residence.

To paint a picture, living in a townhome and will rent it out when we move in 2-4 years. I want to take advantage of the equity and invest in a property. I can do a cash out refi and increase my payment nearly $500 a month or I can get a HELOC.

The HELOC is appealing because I can use it when I find a deal and I only pay back what I use. But it also seems very risky to borrow against my primary residence. On the other hand, the cash out refinance would increase my payment to a point where I would cash flow only $100-$200 when I end up renting the place and moving out.

Anyone have experience with either? Do you prefer one over the other?

Has anyone used a HELOC to buy an investment property? I'm in the process of doing a Refi on my primary residence that we plan on renting in the next 3-5 years (Townhome) and my lender is recommending we do a rate and term refi and do a HELOC instead or a cash out refi so that we can get a lower rate.

@Evan Polaski This is really helpful, thank you!!

@Jonathan Greene The home I’m living in now will turn into an investment property in the next year or so. It just seems like the barrier for entry is lower out of Utah. Utah real estate prices are extremely high and aren’t ideal for short term rentals at the moment

@Bruce Woodruff Main reason being it’s difficult to cash flow in Utah, inventory is low, and prices are super high.

@Will Fraser thanks for the insight! I’ve been planning on going to one of those soon. I’d love to chat!

Does anyone have experience with out of state Airbnb investing? I’d love to chat and pick your brain a little bit! I’m in Utah and am looking at getting my first out of state property