Should You Use a HELOC to Buy Investment Property? Risk vs Reward

In this video, I go over whether or not YOU should Use a HELOC to buy an Investment property.
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[@jbeezy4509]

Im in SoCal and about to use my HELOC for a ADU garage conversion. I’m expecting $1500 ADU rental plus extra $ I’ll be saving next 18-24months of tight budgeting to pay it off asap🤞🏾😎

[@JayCosta]

good luck! Thanks for watching!

[@oscarvargas2501]

How much do you expect your cost is gonna be to build your ADU? I build my ADU in 2021, and these contractors wanted $100,000 to build mine.

[@melodyn6419]

Do you have no income verification HELOC in New jersey? I am looking for it for long...

[@JayCosta]

Dont think so, sorry! Thanks for watching!

[@KeiraBuenrostro]

Can a lender call out the balance on a home equity loan at any time?

[@JayCosta]

Depending on the lender most likely.

[@benny871]

Can I use it for basement development? I am thinking about renting out my basement unit.

[@JayCosta]

How are you going to pay off the heloc?

[@FreestylingIsLike123]

Renting the basement???​@@JayCosta

[@benny871]

​@@JayCosta My mortgage renewal is in 2 years. I am planning to develop my basement next year and do a cash-out at the time of renewal to pay off my HELOC balance. I live in Canada, where housing prices have increased significantly after COVID, so I have enough equity to pull out from my property.