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Updated 7 months ago,
using heloc for rental
Hi 👋 everyone!! Do you guys think its a good idea to use Heloc as part of a down payment to buy a larger deal? lets say heloc rates are at 9% and deal is 15% coc, its a 6% spread Would youd do it? I was thinking of using 90k of my own savings and 40k heloc to buy larger unit. Pay it off in a year using cashflow and savings.
Thanks