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Updated over 4 years ago,

Melissa Parkin's profile image
Melissa Parkin's profile image
Melissa Parkin
  • Member since Aug 9, 2020
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Melissa Parkin's profile image
Melissa Parkin's profile image
Melissa Parkin
  • Member since Aug 9, 2020
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Melissa Parkin
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Starting Out

1st investment - buying rental property using HELOC. Good / bad?

Melissa Parkin
Posted

Looking to start investing in real estate. Want to purchase a rental property for my 1st deal using a HELOC from my primary residence. I have a lot of equity in my current residence and not a lot of cash on hand.

Is this a good idea? Will it only work if my HELOC covers the entire purchase price of the rental property? Any other creative ways to get into the market with little cash?

Thanks in advance!

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