Use my 75k heloc to pay down my mortgage or invest?

[Daniella Spears]

Hello BP Community! I'm fairly new so bare with me please! I obtained a heloc for 75k and I can't decide if I should throw that down( or a portion) on my mortgage where the interest rate is 4.49 or use it to invest in a cash only property. (I owe 75k on my mortgage). The heloc rate is 1.8 but in a year it moves to a variable rate that could increase to a 8.9. Also, due to my mother's mental health, I have PoA over all her affairs including her home where she owes 45k with an interest rate of 6.9. I'm considering trying to knock that mortgage down in her name and then transfer it to my LLC or move it to my LLC before doing so. Not sure which would be more tax advantageous. After a year, I would have even more equity in my property and could hopefully come back to my bank and renegotiate the heloc and rates. Any advice would be very appreciated!!

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