To HELOC or Not To HELOC

[Mario Morales]

I'm looking to pull equity from a property, but I have a great interest rate that I don't want to lose. My thought is to use a HELOC for the down payment on a new property (20% down), then once I acquire it, do a cash-out refinance to pay off the HELOC while keeping my original low rate intact. Does this strategy make sense, or am I overlooking any potential pitfalls?

[Jaycee Greene]

Hey @Jay Papasan! I've seen this same reply from you in a couple other posts. This type of self-promotion is only allowed within the Classifieds section of the Forum. I'd hate for the BP admin (@Jonathan Greene) to lock your account as you may have valuable information to share with novice investors...this just isn't the right place to do it.

Now, @Mario Morales, what price range are you targeting for the new property?