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Updated over 5 years ago on . Most recent reply

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Mike Jacovelli
  • Rental Property Investor
  • Queens, NY
37
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12
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Heloc or hard money lender to buy first rental

Mike Jacovelli
  • Rental Property Investor
  • Queens, NY
Posted

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
  • Real Estate Broker
  • Cody, WY
41,046
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied

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.

  • Nathan Gesner
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