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Updated over 2 years ago,

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14
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7
Votes

Using a HELOC to purchase rental

Andrew Martinez
Posted

I am under contract on my first property. I used my HELOC to put a down payment on that property and financed the rest. I have some HELOC left after the purchase. I have a few questions.

1. What should be my next step and how long do I wait to purchase a second property?

2. How do I pay off the HELOC faster to possibly use it again or break free from the HELOC?

If anyone has used or has experience with this scenario I would love to hear your strategy or how you did everything to get more properties. Thanks

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