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Updated almost 7 years ago on . Most recent reply

User Stats

37
Posts
3
Votes
Matt Lawrence
  • Investor
  • Tulsa, OK
3
Votes |
37
Posts

Which option do you see fitting best?

Matt Lawrence
  • Investor
  • Tulsa, OK
Posted
I have 3 options to use as my down payment towards my next SFR. HELOC from my primary home, which I initially leaned towards thanks to David Van Horn's opinion, with a 5.5% variable rate & I believe paid back over 3 years. Never done this before so still learning the ins & outs. Private money which would be approx a 15k note that I would pay back @7% over 5 years making it a lower monthly payment - Use my own money. For arguments sake

Most Popular Reply

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7,695
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7,859
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Caleb Heimsoth
  • Rental Property Investor
  • Durham, NC
7,859
Votes |
7,695
Posts
Caleb Heimsoth
  • Rental Property Investor
  • Durham, NC
Replied

Matt Lawrence with the way rates are going I wouldn’t want a variable rate right now. You’re gonna be paying much higher percentages in the coming years.

My vote would be your own money.

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