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Updated over 4 years ago,
Newbie getting started: HELOC vs Home Equity Loan
I am in San Antonio, TX getting ready to jump into the real estate investment property arena and after reading The Book on Rental Property Investing and reading some forums I think my best way to enter is through home equity. My plan was to use equity in my current home which I'm house hacking currently to purchase a property and use the BRRRR method to turn that into my first deal then pay back the equity after refinancing.
Does anyone have any advice on HLEOC vs Home Equity loan for this. I've read on both and was wondering if anyone has any experience of one vs the other in regards to my situation.
Thank y'all!