Under Contract HELOC or Mortgage

[Romie Graham]

Hey everyone!

Currently under contract for a SFR that will be an investment property (first investment property)

For those that have some experience I’d appreciate some advice!

Purchase price is $60k light to medium rehab thinking $20k max, ARV is between $105k-$120k. I have a HELOC that can cover the $60k and a private lender to cover the rehab. Is that a good route to take or should I get a mortgage at 7% and use the HELOC for the down payment and rehab.

Any advice would be helpful thank you in advance.