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Updated over 5 years ago, 06/29/2019
Thoughts on a getting HELOC to buy 4 SFH
I am thinking of taking out a 200k HELOC on my personal property to buy 4 or 5 SF homes to add to my portfolio . The 200k will cover the 20% down on probably 4 homes, each one will cash flow $200- 500 per month, and I would be financing the 80% balance. I am not sure I will be able to get 4 new mortgages within a year though. Do you think this is a good plan or should i use the 200k to purchase 1 sfh outright.