Help! Should I use a HELOC to buy my 1st Investment Property

[Shanna Gregory]

Hello, I am new to investing. I currently own a home and have acquired some equity and I am looking to take out a HELOC. The plan is to either use this HELOC to buy a property outright for about 30K-50K, rehab it myself and either sell or refinance/rent or I can take the HELOC and use it as a down payment on a more expensive home in a better area that I plan to flip. My question is, Should I use my HELOC for either one of these scenarios and would one idea be better than the other? Thank you in advance for your help.

[Aaron Shoemaker]

@Shanna Gregory- agree that the interest rates are high on HELOCs right now, but so is everything else. And since they usually come with no added fees, HELOCs are still probably the best option for buying your first investment property. That's how my wife and I got started. I think you've nailed step #1!