Newbie from Dallas, TX

[Rick Thompson]

Hey Everyone, Wife and I are both teachers and looking to buy are first investment property through a TK company. Looking on getting a HELOC to purchase. Just getting my feet wet and learning as much as I can. Just a quick question: I was told in Texas you can’t use your HELOC to purchase a second home. Is that correct? Thanks! Rick

[Antoine Martel]

I am not sure if you're able to use a HELOC to buy a second home in TX but I wouldn't see why not.

You may also want to look at buying turnkey rentals out of state as the cash flow will be a little bit better than Dallas. 

Prices in Dallas have gone up a ton in the last couple of years. Making cash flow hard to find.