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Updated over 6 years ago on . Most recent reply

Amanda Berg's profile image
Amanda Berg's profile image
Amanda Berg
  • from Coral Springs, FL
  • Member since Feb 6, 2016
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Amanda Berg's profile image
Amanda Berg's profile image
Amanda Berg
  • from Coral Springs, FL
  • Member since Feb 6, 2016
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Amanda Berg
  • Coral Springs, FL
2
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12
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Starting Out

HELOC as downpayment for first investment

Amanda Berg
  • Coral Springs, FL
Posted

Thoughts on using a HELOC to invest in 1st property rather than using savings?

Has anyone done this?

I have about 200k in my current house.

I have 100k in the stock market making 7%.

I was thinking, why not use a HELOC to take out about 30K to invest in my first property and pay it back over the next 12 months.

Thoughts?

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Sara C.'s profile image
Sara C.'s profile image
Sara C.
  • Realtor
  • from Decatur, GA
  • Member since Jan 10, 2017
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Sara C.'s profile image
Sara C.'s profile image
Sara C.
  • Realtor
  • from Decatur, GA
  • Member since Jan 10, 2017
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Sara C.
  • Realtor
  • Decatur, GA
90
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133
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Sara C.
  • Realtor
  • Decatur, GA
Replied

Hey Amanda! 

This is exactly what I did to purchase my first deal. I took out a HELOC on my primary home, and used it for the downpayment for traditional financing as well as the renovation costs. It worked out great!

- Sara

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