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Updated almost 3 years ago,

User Stats

6
Posts
0
Votes
Nicco M.
  • Investor
  • Cleveland, OH
0
Votes |
6
Posts

HELOC Payoff / How to best utilize

Nicco M.
  • Investor
  • Cleveland, OH
Posted

Hey BP!

I have about 85k equity in my primary residence and have been considering using a HELOC against my primary residence to purchase an investment property.

Am I correct in assuming most of the cash flow I'd be making from the investment property would likely go towards paying off the HELOC?

I realize there are a ton of variables and if I were to force appreciation in the investment property I could refinance the investment property and pay off the HELOC. Would this scenario typically be the best approach for using a HELOC?

Thank you 

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