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Updated over 4 years ago on . Most recent reply

Brandon E Burnam's profile image
Brandon E Burnam's profile image
Brandon E Burnam
  • Member since Jan 15, 2019
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Brandon E Burnam's profile image
Brandon E Burnam's profile image
Brandon E Burnam
  • Member since Jan 15, 2019
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Brandon E Burnam
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Starting Out

HELOC help funding new rental

Brandon E Burnam
Posted

1st timer! Forgive my nebieness. Using my heloc on current property to fund the 20% down and closing. Pp 70k ARV about 112k. Currently rented for 12 years by same tenant. Not doing repairs until they decide to move out(only cosmetic needed.) My question is do I slowly pay back the heloc with cash flow or refi asap to pay back heloc? Thank you in advance for your assistance.

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