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Updated almost 4 years ago on . Most recent reply
HELOC or home equity loans good or bad for investing ?
I’m just getting started and I own my home I live in. I have plenty of equity and want to know is using my equity a good idea to fund my first investment property (maybe multi-family)?
Most Popular Reply
Matthew Irish-Jones
Property Manager
Agent
Pro Member
- Real Estate Agent
- Buffalo, NY
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@Ryan Williamson have a HELOC I use for overages on rehab projects, or in case a I need a chunk of cash quickly.
Interest rates are low so I would prefer to just take a loan to buy a property instead of using a HELOC, this frees my HELOC up for above mentioned reasons.
But yes... using your HELOC is an acceptable strategy to purchase an investment.
- Matthew Irish-Jones
Irish Jones Realty
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