John Hickey Thank you for sharing your journey...

hey hunter, best of luck on your journey. make sure to go to all networking events in the area and possibly even starting your own to start building footprint in the area.

You have used home equity lines of credit to purchase investment rentals and want to know the best way to pay down the HELOCs.Between the two properties you bought, after expenses, you have $250 a month positive cashflow to use.What I like to do is pay down some principal every month with my positive cashflow.I use my extra active income from real estate commissions helping other investors to pay down the principal even more which just frees up that credit for me to use again.I know I can refinance the HELOC debt before it changes to principal and interest as it is just interest only payments as yours are.One difference is the cashflow, I have greater positive cashflow and could make the principal and interest payment in the future with the extra cashflow I already enjoy.I always get HELOCs on my income properties as well after purchasing them to pull out as much of my downpayment as possible.

I'm going to follow this to see what tips folks provide.MikeHey Mike, I am actively investing there so feel free to reach out with any questions!   

Is anyone actively doing midterm rentals in this general area and willing to help some new comers out?

Be pro active.

For my account I pay $10 per quarter while the loan is active so only $40 a year to borrow this money. 

*There was 10.1% more listing inventory in the metro and a whopping 30.5% more active listings on the market in the City of Austin.

Best of luck on your journey! 

best of luck on your journey