All Forum Posts by: Jason Ngo

@Ashish Acharya Thank you! So I should use the cash since I have it instead of the HELOC? I just thought it would be nice to use the HELOC and still keep my cash/stocks that are making oK money.

@Rudy Vazquez Thank you! I’m trying to understand the purpose of the HELOC. Since ive been told thats what I should use to start buy investment properties.

I am looking to buy another property for $350k and rent out my current house for $2400/mo. The bank has approved me for a HELOC of $100k with 4.5% variable interest and the origInal plan was to use the heloc to put the 20% down on the new house. But now I was wondering if I should just get One conventional loan to avoid having two loans (HELOC and conventional) and save the HELOC for another rental property. Of course this plan would require me to use $70k (20%) of my money from stocks as a down payment instead of using the heloc. Any input would be greatly appreciated. I think I’m on the right track but just want some confirmation and guidance please! Also this is my first post. Thanks!!