HELOC as a starting point to the BRRR Strategy for a first time home investor?

[David Weeks]

Hello All,

I hope this post finds everyone well and ready for this upcoming Fall! I'm just getting started on my investing journey and I was discussing this HELOC as an option to getting started. What are the pros and cons that I should be considering. From the research I've done so far I was able to see an avg of around 9% which seems higher than the current 30yr fixed rate. Definitely riskier being that if the first deal fails I am responsible for both loans. What are your thoughts out there? I am currently working at paying down some other debts and monitoring this possible decline in home prices. I want to be timed right and I want to get started. Just exploring some options and seeing what I can learn from all of you amazing investors out there that are inspiring me to get started! I am in the Katy area but I am looking to invest anywhere in the greater Houston metro specifically in smaller multifamily to get started.