Using HELOC for Investment Property Downpayment

[Brian Patrick]

Hello All,

My wife and I have finally made the decision to dive into our REI dreams and begin making the plans to make it all reality. We have set a goal of purchasing our first property in 2018 and are looking into different strategies. I currently own a home and was interested in the idea of using a HELOC for down payment on our first investment property. While it is an appealing option, I am unclear on if its a viable option - as it would leave me with essentially three mortgage payments (my residence, investment property, and HELOC payment). I was curious to know if any of you have used this method for a down payment or what you more seasoned investors thought of the idea. Any insight would be greatly appreciated.

Thanks guys!