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Updated over 3 years ago,

Alan Bostick's profile image
Alan Bostick's profile image
Alan Bostick
  • Homeowner
  • from Orrville, ohio
  • Member since Sep 17, 2021
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User Stats

71
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31
Votes
Alan Bostick's profile image
Alan Bostick's profile image
Alan Bostick
  • Homeowner
  • from Orrville, ohio
  • Member since Sep 17, 2021
Connect
Alan Bostick
  • Homeowner
  • Orrville, OH
31
Votes |
71
Posts
New Member Introductions

HELOC on primary residence

Alan Bostick
  • Homeowner
  • Orrville, OH
Posted

I am currently building my primary residence here in Ohio. My home will be complete in November of this year. Total cost of the build was 425K. I will be carrying a 350K loan on this property. As of January of 2021, it was estimated value was 455K but I anticipate it to be valued more closely to 470K at time of completion. Is it wise to use a HELOC on my primary residence to begin rental investing? We plan on beginning investing in spring of 2022.

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