Seeking advice on an investment opportunity for a rookie investor

[Will Stewart]

I have been presented with an opportunity to purchase a duplex in a thriving college town. The price is a little more than I want to pay but as of now I have not made an offer. I have reached out to several lenders that my realtor in the area recommended and am waiting to hear about loans. My question and the advice I would seek is what is the best way to use a HELOC for this situation if I decide to do so? Is it best used for just the down payment or should I try to use more to lower the loan amount? I am still going to run the numbers on the biggerpockets calculator but would love to discuss this with a seasoned investor if someone doesn't mind. Thanks so much!!

[Wale Lawal]

@Will Stewart Normally the rate you will get on a mortgage will be better than the rate you get on a HELOC, plus HELOCs typically have an adjustable rate. With that being said, if you're trying to determine to put more or less down, you'd probably be better off going with less.