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Updated about 3 years ago,
Is this a good deal?
I have the opportunity to buy a multi off market. I would have to use basically all my equity out of another multi to pay for down payment and rehab costs. This equity line of credit is good for 10 years but I would want to pay it off much quicker. I would not net any profit for 4 years bc I would be paying double to pay off my heloc and then after that would be about 1800 a month after expenses. Is this something I should do ?