All Forum Posts by: Susan Butler

Ok, makes sense! Thank you @Melvin List and @Jasmine Williams for your input! 

@Melvin List sure, I am W2 employee who make around 150K. I don't have any other sources of income

Hi, 

I am new investor and just got my first cash offer accepted for an investment property which I am planning to use for a long term rental. Initially I was planning to use a mix of cash and stocks to fund this purchase, but now having the second thoughts whether I should use just some cash and apply to some home equity financing options instead to cover the offer amount. Does HELOC and other home equity financing methods work in the current high interest rate environment? Can I explore an option of getting the regular mortgage for a part of the balance? Not sure whether it will be even allowed with the accepted cash offer?! Eventually I would like to grow my investment portfolio and buy more properties, so I don't want to use up all my cash and stocks on one property. Can you please advise on the financing options that I can explore with the accepted cash offer? I have the big enough equity built in my primary residence which I can use for HELOC or 2nd mortgage if it is needed. I would appreciate if you can let me know your thoughts and share your experience. Thanks a lot!