First investment property
Good morning, I am looking for my first investment property and wanted to get some advice. I pulled a HELOC (interest only) and unfortunately the money is sitting. I'm looking at homes in the Philly area up to 150k including rehab. What advice do you have for me as far as using all the HELOC to fund the project vs just using some of it for a down payment and getting a hard money. Some may think this is a stupid question, but please I just don't want to make the wrong move as I'm still learning. Any advice greatly appreciated. The goal is to BRRRR.
Most Popular Reply
Hi Nadia,
Do you live in or know the Philly market well? There are plenty of area where you can buy+rehab for under $150k all in but if you dont really know those markets it could give you issues.