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Updated over 4 years ago on .

David Appe's profile image
David Appe's profile image
David Appe
  • Rental Property Investor
  • from Covington, LA
  • Member since Aug 27, 2020
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User Stats

10
Posts
1
Votes
David Appe's profile image
David Appe's profile image
David Appe
  • Rental Property Investor
  • from Covington, LA
  • Member since Aug 27, 2020
Connect
David Appe
  • Rental Property Investor
  • Covington, LA
1
Votes |
10
Posts
Starting Out

Using HELOC to purchase 2nd home

David Appe
  • Rental Property Investor
  • Covington, LA
Posted

I am currently trying to purchase a 2nd home as an investment property. I in fact have a home under contract right now and I want to know the best route to take in order to finance this purchase. I have a HELOC from the home I currently live in, but the problem is that the HELOC will not be enough for the 20% down payment in order for the bank to finance the rest. What is my next move? Do I try to find another lender that will finance the house for less than 20% down? Do I find a private or hard money lender?

I would love any and all feedback to guide me in my next step of real estate investing! 

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