I need a Houston-area finance genius to let me buy them coffee

[Andrew Taylor]

Although my BP post count is climbing, and my knowledge is increasing, my portfolio is still at zero - and I'm afraid it will remain so until I start to get a grasp on financing techniques. I would absolutely LOVE to get together, face-to-face, with a Houston-area investor who can answer actual questions based on my actual situation and help me get a grip on how I might be able to take the next step. Willing to trade coffee, lunch, and/or beer as necessary.

Anybody interested? Feel free to reply here or PM me.

[Michelle Williams]

I'm also considering using my personal home equity to fund deals. Both home equity loans and HELOCs are second lein positions, otherwise know as second mortgages (in which that term may lends itself to somewhat of a negative connotation IMO). BUT! if you are using that second mortgage to temporarily fund purchasing (real estate) assets, it's all good! What's the purpose of the 100k home you are buying? rental, flip? banks will typically allow loan amounts 80% LTV minus mortgage balance, so depending on what that amount equates to for you, you can take it out at one time with a fixed rate and term in the form if a home equity loan, or over time as a HELOC (typically variable rate, shorter term, but sometimes only requiring interest only payments on the amount drawn). if you are renting this property, the rent payments can pay the second loan note during the seasoning period until you can cash out refi into a new mortgage (using the cash to pay off your equity loan/line)...then rinse and repeat! of course there are several nuances to this whole process, I recommend reading Brandon Turner's book The Book on No or Low Money Down, there's a specific section on home equity in there. I hope this helped, good luck!