Should You Use a HELOC to Buy Investment Property? Risk vs Reward
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- Опубліковано 25 сер 2024
- In this video, I go over whether or not YOU should Use a HELOC to buy an Investment property.
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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🤞🏾😎
good luck! Thanks for watching!
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.
Do you have no income verification HELOC in New jersey? I am looking for it for long...
Dont think so, sorry! Thanks for watching!
Can a lender call out the balance on a home equity loan at any time?
Depending on the lender most likely.
Can I use it for basement development? I am thinking about renting out my basement unit.
How are you going to pay off the heloc?
Renting the basement???@@JayCosta
@@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.