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Updated almost 10 years ago, 03/05/2015
Is it wise to take out Home Equity Loan for Investment Property Down Payment?
Good Morning Everyone,
Been recently reading these forums and they are an awesome place, especially for a newb like me. I have a question that is specific to my situation and getting started in REI. Since college, I have wanted to start in REI and my first home was a foreclosure. That is my limited background:)
The foreclosure I bought a few years ago, value is higher now (due to having 15 year mortgage and the market improvement). Would it ever advisable to take out a home equity loan for the down payment on Investment Property? Or will the banks I am trying to finance through view this as being too leveraged?
Thanks for your time!!