Updated over 5 years ago on .
Best way to use a 70k HELOC?
Hi everyone and Happy New Year. I'm planning on using a 70K HELOC for my next deal. Initially my thoughts were to use all of it on a 1-4 unit that is distressed and BRRRR it. If I pursue this, it looks like my options are limited to C class areas in FL. So my question to ya'll is this: Would you use all of the HELOC for an all cash buy and rehab like I describe above or use some of it, if the numbers make sense, on a down payment for traditional financing? I now wonder if I could use it on a down payment for several deals in the 50-100K range or perhaps a down payment on a deal in a B class area.. I appreciate the feedback in advance. Thanks so much.