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Updated over 2 years ago on . Most recent reply
In Desperate Need of Advice!
Hello everyone,
I have a very unique situation that I need help with. I own a house in Colorado Springs that I owe $242k at 2.75%. I really would like to move out of this home due to mental health issues (lost a loved one in the home, and it makes it hard to be here). I also want to get into real estate investing. The house is in need of repairs. It needs new flooring and new windows, as well as some yard work. I was thinking of getting a HELOC to do the repairs and putting the house up for rent. Does that sound like my best option in this circumstance? Any other ideas? Thank you.
Most Popular Reply
That rate is awesome, don't lose it. Keep it as a rental and as long as you're cash flowing I think you're winning.