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Updated over 6 years ago,
Using a HELOC on paid off home vs cash for BRRRR investing.
So I'm in a unique situation where I own a property worth around $213,000 that is paid off. No mortgage.
I also have access to about $30k cash through a bond that I can tap into. I have not yet purchased a rental property ever.
My question is this: should I be focusing on tapping into that 30k for down payment and rehab on a property? Or should I be looking for deals where I can use a HELOC to minimize my personal cash investment and improve cash on cash roi?
Thanks for your responses.