New Member from Apex, NC looking to get started

[Jason Savage]

Hey everyone, I'm a new investor looking to get started with my first property. I'm interested in townhouses and/or single family homes in my area. Since this will be my first property, my idea is to tap into the equity in my primary residence for financing.

Does anyone have any experience financing a rental property in this way and what kind of obstacles I can expect?

[John Van Uytven]

@Jason Savage

Welcome to BP, it's a great site.

You could use a HELOC to finance the purchase, or use a HELOC to get your down payment.

Those are the 2 most common ways people have used them.

Have you read the Ultimate Beginner's Guide? It is a great read (plus free).

Don't forget to make keywords up so you know when someone is talking about your areas of interest.

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Good luck & remember

*DFTBA*

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