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Hey guys... kind of along this thought process, I want to get your opinion on something from an investment strategy.
I currently own my home, I have no debt with the exception of my cable bill (which I will soon be cutting the cord on that too)... My house, cars, motorcycles, etc is all paid in full. I currently have a HELOC available credit line of $140k at prime plus 0. The HELOC is set to expire in 3/2022...
Originally I wanted to use the HELOC line to invest in some flips as I have in the past, however, given the state of the housing market, and the limited funds of $140k for 12 months, I'm re-thinking my options and possibly closing out the existing HELOC and applying for another line of credit.
The reason being is because... Now the house is paid for, (where it wasn't when I initially open the HELOC) and, the house is worth more because of the housing market at this time.
My goal this year is to significantly invest 2/3rds of my cash into some type of investments.
Let me know your thoughts on the HELOC idea...? Thanks guys..
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