Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago,

User Stats

67
Posts
20
Votes
Heather U.
20
Votes |
67
Posts

what to do AFTER using a Heloc to purchase rental

Heather U.
Posted

I have used a Heloc from my primary house to put a down payment down on a rental. I got that far.  Now, however, I can't find any articles/guidance as to how to pay the mortgage and the Heloc.  I know to put my salary into the Heloc account so I avoid the interest charges.  But...can anyone point me in the right direction of podcasts/blogs etc..that discuss the steps/pros/cons of what to do next? For example, do we use the cash flow (about $350 a month) to put into the Heloc so I can stop putting my salary in there. Or do I use the cash flow to pay down the mortgage faster?  Our rate is %6 which I think was a cruddy rate considering we have great credit.  That makes me want to pay it off as fast as possible.  Thanks for your advice. 

Loading replies...