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Updated about 6 years ago,

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Paying off HELOC methods

Posted

New to the idea of HELOC. Just curious as to how it's paid back and best options for paying it down. If I'm going to purchase a rental property using HELOC funds is it best to utilize cash flow from the rent or does it matter how i pay it down. Are you just paying the interest? I was thinking to initially put most of the rent money to the principal in order to be able to have more equity in the rental property quicker. Just looks for thoughts and input.

Thanks

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