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Updated almost 3 years ago,
HELOC Payoff / How to best utilize
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