How can I jump into my second property?

[Andres G. Hernandez]

I want to get into my second property, but having trouble on how to go about this. Im debating on getting a HELOC to put a down payment for the investment home or getting a personal loan. I could also wait and save for the next property but with how fast the market is moving I don't think that would be a wise choice. I don't know if I should stay investing in my hometown or go somewhere that has more cashflow.

[Logan McKay Zylstra]

I would definitely NOT get a personal loan. A HELOC could be a viable option. You also have to look at your DTI when taking out these loans/lines of credit. What I would do (and have done personally) I'd wait until you can save up for the next downpayment.

For me, saving my second down payment was the hardest. Once you’re able to stack a couple of properties, the cash flow will allow you to build down payments more quickly.

Speaking just from personal experience.