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re: Rental Properties
Posted on 8/4/21 at 8:46 pm to Fat Bastard
Posted on 8/4/21 at 8:46 pm to Fat Bastard
Have you ever utilized a HELOC on a rental property to put a down payment on another rental property?
1
Posted on 8/4/21 at 9:25 pm to Paul Allen
quote:
Have you ever utilized a HELOC on a rental property to put a down payment on another rental property?
absolutely that can be done. a regular personal LOC can do that also for you. many also use velocity banking techniques aka HELOCs or other LOC to pay down mortgages if they feel the need to. gives you more flexibility. you cannot re-access capital you use to pay down principal from mortgage company. you can always keep accessing your HELOC or LOC for the life of the loan term. some get a property paid off. then get a HELOC. use HELOC to buy 4 more properties. then use new cashflow to pay down HELOC and then wash, rinse, repeat.
LINK
LINK
This post was edited on 8/4/21 at 9:29 pm
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