HELOC, Refi on my personal house to get started??

[Jeremiah Dye]

Hello everyone! I don't have a lot of money saved in the bank, but I had thought about either refinancing my personal house and taking the money out of it, or refinance and then getting a HELOC to get started on buying investment properties. Is this a good idea or not? Pros and Cons of both?

I am single and 35, so I don't have any dependents and can be risky, and I have a modest amount of equity in my home. What are your thoughts?

Thanks!

[Thomas S.]

HELOC is the best thing you can do to free up useless dead cash that is not earning its keep. HELOCs are great because you only pay interest on what you use and you are not obligated to pay anything more than the monthly interest. Use as you go, pay as you go. Your house becomes your own personal bank.

Money is useless if you dont use it.