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Updated over 6 years ago, 06/08/2018
No Mortgage on Rental; Use Cash or HELOC for expansion?
Hi Everyone,
Rookie Question here.
I have mortgage-free SFH rental property in San Antonio, TX that generates $1300/month ($1000 after Exps), w/ an assessed value of $165K.
Questions: Is it more beneficial to use a HELOC versus CASH for a 20% downpayment (approx $40K) to purchase a Duplex?
Any thoughts or ideas are welcome.