HELOC to Start? First time Investing

[David Alberts]

I am brand new and I’m afraid to borrow against the newly acquired equity in my home. Almost complete on the inside of an extensive renovation of a 150 year old farmhouse in New England. I still have the the majority of the outside of the home to repair and update.

Not sure if I should get a Heloc on the property to buy my first rental or wait a year or so until I am much closer to finished? Worried the market could dip and I could loose out.

Help! I feel paralyzed on what my next move should be.

[David Alberts]

@Sevak Gasparian

Thanks Sevak! Do you think I should shop around for a bank or go with one that I have already connected with?

I’m definitely thinking I will get the process started soon.