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Updated almost 5 years ago on . Most recent reply
what to do? HELOC frozen...
I just got a HELOC on my investment portfolio, so I can buy my next building with "cash".
I dumped all my operating funds in my HELOC to minimize the interest.
Now, I get a wrenching gut feeling that this HELOC can get frozen and I won't be able to buy anything new.
Please, give me an advice: what would you do?
Most Popular Reply
Greg Scott
#3 General Real Estate Investing Contributor
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- SE Michigan
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Greg Scott
#3 General Real Estate Investing Contributor
Pro Member
#3 General Real Estate Investing Contributor
- Rental Property Investor
- SE Michigan
Cash is king. I'd rather have cash than less debt.
Most HELOCs have a low interest rates. To me paying a low interest rate on a HELOC is like buying insurance. I have protection against bigger risks for a nominal price.