1st income producing adventure.

[Lorne Hill]

Ok, looking for insight on my plan to get some income going:

I refinance primary home and get a heloc as 1st lien at $192,000(value at $240,000), at 2.74℅ for 1st 12 months then 4.75℅ for the next 9 years of draw period.

I take $100,000 and loan it at 15℅ for 1 year term and get $1250 Mo. Cash flow. At the end of 1 year term both intro. rate and investment apply it back to heloc and balance will be $58,000....also I will be pay check parking into the heloc.

Thanks for reading and any info about this deal.