Should I Take a Heloc on Primary Resident To Get Started In Real

[Naimah Lewis]

Hello,

I am considering a HELOC to purchase my first 2 family rental property. The property will be rehabbed and property managed all included with the purchase price. Is a HELOC a good idea?

[Percy N.]

@Naimah Lewis keep in mind that with the new tax laws you may not be able to write off HELOC interest or so I heard. So you can use the HELOC as a short term instrument and then refinance it out but make sure you can get the leverage you want.