All Forum Posts by: Johnny Vue

Thank you all for the guidance. I appreciate it.

Sorry if what I said sounded confusing. I already did a cash out refi around two months ago on my primary residence. I didn't pull out much from my equity. My house was appraised for $460K. My house was $360K when I bought it. I only pulled out $30K to consolidate my debt. 

I did some researching prior to posting this and it seemed like I can still open a HELOC on my primary residence because I have equity left. I was wondering how some people managed to pay off their HELOC within a year or less. I know some did it by using the BRRRR method, but I'm looking at buying a turnkey property using a HELOC for the down payment. What is another possible strategy to pay off the HELOC faster? I thought I heard David Greene mention doing a refinance on the HELOC, but he didn't go into detail on how that works.

Hi. I'm rather new to real estate investing and looking at purchasing my second property. I live in San Diego and it's expensive here. I have a few questions about using a HELOC to purchase an investment property. Besides paying more than the interest, what are other strategies to pay off the credit borrowed on the HELOC as soon as possible? I thought of doing a cash out refinance on my primary residence and use it to pay the HELOC bill, but would that be a smart move?