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Updated almost 2 years ago,
Using Heloc to buy multifamily
Im currently in the process of buying a 4 unit house with a heloc on my personally house. The heloc is a fixed rate however interest only for the first 5 years unless I choose to make additional principal payments. If my intention is to keep buying multifamilies would you guys intentionally pay down the heloc as fast as possible to keep open for the next multifamily deal? Whats the best strategy to keep the snowball moving. Currently the 4 plex is all rented with long term tenants rents are much lower than what they should be the numbers still work for the deal.