Why Not Use Home Equity For A Purchase
I keep reading that you shouldn't use home equity to purchase or make down payments on rental properties. Why? It is a very low interest loan and can also carry interest only payments. And the interest is tax deductible.
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I did it this way. Just make sure the income from the property will service your line of credit and have a positive flow. And don't forget...it's tax ded...
K.Jubb