Hi,
I am looking to purchase a rental property (single family home) and I am trying to figure out the best way to do it. I have enough cash to pay for it out right, and would still have enough in reserves to be fine.
I also have a home equity line of credit which has an interest rate of 5.5% and is good for 10 years. The payment on the HELOC is just interest.
For this particular investment I am looking at about 3.5 years for the ROI.
So the question pay for it with cash or the HELOC and why?
If the answer is cash then when are good times to use the HELOC?
Thank you for any insight you can provide!
Submitted January 24, 2019 at 08:17AM by Dad_2_B http://bit.ly/2RdnujI
