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Updated about 4 years ago on . Most recent reply

William D.'s profile image
William D.'s profile image
William D.
  • from Staten Island, New York
  • Member since Aug 9, 2017
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William D.'s profile image
William D.'s profile image
William D.
  • from Staten Island, New York
  • Member since Aug 9, 2017
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William D.
  • Staten Island, NY
15
Votes |
109
Posts
Buying & Selling Real Estate

Using a HELOC to purchase another investment property

William D.
  • Staten Island, NY
Posted

What's up BP!

What are your thoughts on using a HELOC on 1 of my investment properties to purchase another investment property? I'm not even sure if that's allowed. The new investment property rental income would cover the mortgage and easily cover the HELOC.

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Brian G.'s profile image
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Brian G.
  • Rental Property Investor
  • from Los Angeles, CA
  • Member since Dec 30, 2013
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Brian G.'s profile image
Brian G.'s profile image
Brian G.
  • Rental Property Investor
  • from Los Angeles, CA
  • Member since Dec 30, 2013
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Brian G.
  • Rental Property Investor
  • Los Angeles, CA
1,240
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Brian G.
  • Rental Property Investor
  • Los Angeles, CA
Replied

@William DeLuca as long as you can pay it back quickly (ie on a flip or Brrrr), if not it is likely best to do a cash out refi on prop #1 to come up with the down payment for prop #2 especially with rates at all time lows. Good luck!

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