All Forum Posts by: Rachel De Jesus

I am looking to fund an out of state long term rental through a HELOC. Right now the cash flow from the property covers the interest only payment of the HELOC but once the 10 year draw period is over we will be looking to take pay majority of the HELOC out of pocket. The idea is to buy 1 or 2 properties through the 1 HELOC and once we have enough equity, we will refinance the new properties to pay off the HELOC or potentially just refinance the house we took the original HELOC on and pay off the HELOC entirely. Has anyone had experience in leveraging and paying off HELOCs? Would like to hear different strategies or ideas on how to accomplish this. The idea is of course to minimize payment out of pocket and fully leverage this house we own in cash.