Updated over 3 years ago on . Most recent reply
Strategy to repay HELOC after buying properties
Hello everyone,
What is your strategy for paying back the HELOC after using it to buy rental properties? I recently secured about 200k from a HELOC with about 5.5 % interest rate. I have been studying the buy and hold strategy so far and open to new suggestions.
I am stuck on how I would repay back my HELOC, using a buy and hold strategy is going to take some time and based on my research, it is not a good idea to have a HELOC for years without a plan on paying it off in a year or two.
That is what's holding me back from investing in the real estate market nowadays. Can you share your strategies? BRRR is another way, but I also have to deal with finding a reliable contractor and making a decent profit after selling.
First time posting here, thanks in advance