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Updated over 5 years ago on . Most recent reply
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Heloc or hard money lender to buy first rental
Trying to get some input if it's better to use a heloc or a hard money lender for my first rental property.
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Nathan Gesner
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I prefer the HELOC because you don't make payments until you spend the money, you only pay on the amount borrowed, and once the balance is paid down it's available for you to use again...and again...and again. Interest rates should be significantly lower with a HELOC than with a hard money lender.
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