So I don't believe the market is going to stay hot forever so I'm thinking about taking out a HELOC now that will serve as a down payment on an investment property in the relatively near future 2-5 years. Are there any major drawbacks or traps to this? Has anyone done this? What was your experience like?
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I’d research the disadvantages vs the advantages of helocs backwards and forwards before I got one. It can be easy to blow through draw money before the pain starts. I’d be even more cautious given the volatile times were living in. Just my two cents. -
Interest rates are good when you can homestead but not so much on investment properties it seems.Comment
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Yup. Just sold our property in Mountain Home. $3,700.00 on 10 unimproved acres. Kerr appraiser told me these taxes would continue to rise. It was gonna take me five years to get an ag exemption and wasn’t gonna do it.Comment
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