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What You Need to Know About Investing with a HELOC
If you haven’t considered using a HELOC to invest, I’d urge you to take a look at your numbers and see if it’s right for you. After all, you can’t eat equity. If I had home equity just sitting there, I would certainly use it to grow my portfolio.
Here’s how it works: once you’re approved for a home equity line of credit, you have a zero balance on your account. It’s a revolving line of credit, similar to a credit card. You can use those funds to put a down payment on a rental property and start building your portfolio.
While you might worry about the debt involved in doing this, remember that you’re building your net worth and your renters are paying down the debt.
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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