All Forum Posts by: Jeff Lease

I am closing on my first deal this Friday and a second deal in another month. Both are single family residential homes that do not have tenants in place. I am putting 20% down on each from equity on personal home. Should I pay off the HELOC as fast as possible or stock pile cash? I don't like debt, but I also don't want to pay the HELOC off. I want my tenants to pay off the HELOC. Any advice?

Try a local lender that isn't a banker. It will take a few phone calls, but you can find one. If this is a dead end, look into local rental companies and speak to the "boss" to see if they know any local hard money lenders.