Using HELOC to fund a deal. Interest only or no?

[Amber Bennett]

Hello All! 

Newbie here! I'm looking to tap into my primary home's equity to purchase a buy and hold. I'm trying to figure out the best strategy to go with? Should I do an interest only HELOC? And why?

Thanks I’m advance,

Amber

[Edward B.]

@Amber Bennett, yes, because your payments will be lower, but only for deals where you cycle your money (fix and flip, BRRRR, etc.) not buy and hold.