Home Equity Line of Credit

[Wyatt Pearson]

Are HELOC's a viable way of generating income, wealth, good start to investing? Has anyone experienced going through the process of a HELOC? What do I need to know before I start the process?

[Peter Philando]

Hey @Wyatt Pearson,

A HELOC is a great way of starting your real estate investing journey. you can use for the down payment or to buy a property outright, depending on the market you're investing in. I would suggest you do a search in forums on the term HELOC. You will get tons of information because there have been many threads on this subject and a wealth of information awaits you. Get used to searching the forums first for information because a lot of times these questions have been asked and answered countless of times. You will also be increasing your understanding of the subject and even getting a wider view of the RE investing landscape. You will still need to ask questions because that's the whole point of Biggerpockets, but your questions will be more specific because of your understanding and confidence. Here is a link to a thread to get started. The fact that you're here asking a question means that you're potentially a fews years removed from achieving your dreams. You got this! https://www.biggerpockets.com/...