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Updated over 6 years ago on . Most recent reply

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Jeremiah Carson
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Using HELOC to purchase investment property??

Jeremiah Carson
Posted

I have ZERO money to put down on an investment property, but have around 40K in equity in our home. What would be the BEST route to use a HELOC to purchase an investment property strictly for as a rental (do not want to flip)? Thank you for any suggestions on helping us to attain our financial freedom!

-Jeremiah   

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Daniel Cullen
  • Specialist
  • Chicago
56
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64
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Daniel Cullen
  • Specialist
  • Chicago
Replied

Every deal is different but I did just what you are describing about 10 years ago. I took out a HELOC on my principal residence and bought a 4 unit bldg. nearby. It worked out fine for me and the new place is cash positive.

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