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Updated about 4 years ago, 10/22/2020
Should I buy with my HELOC or a mortgage?
Hi BP Family,
Can't wait on finding a mentor so I'm executing and learning from experience!
Current Situation: Just closed on a HELOC for $140k my my first property. Have a lot of room with a low DTI ratio. Starting to explore out of state investing, and for a HELOC it will definitely be a BRRR strategy, but figure I can also get a mortgage and buy turnkey or market value.
Question to the more seasoned investors. Would it be smarter to buy my next home with a mortgage and while I have a low DTI? And then the next home with a HELOC? That's my current thinking, but wondering if there's any benefit of buying a BRRRR strategy investment with a HELOC first.