Any Ideas for long distance REI and down payment options

[Adam Peralto]

Aloha,

I currently live in Hawaii and want to continue my investing journey and acquire my second property, first was in Birmingham, AL as a turnkey. I took out from my HELOC at that time - as a down payment, due to my interest on the HELOC being at 1.25%. However, it's up in March of '24 and current rates are close to 8%. All my paychecks go directly to my HELOC in order to pay it down faster, therefore I don't really have a savings. I'm thinking it will be a bad idea to withdraw from the HELOC again because of the interest. My other option would be to take-out a loan from my TSP where the interest is at 4.75%. I'm interested in hearing different opinions on what to do - or maybe hold off on purchasing?