How did you finance this deal?

My mission is to have people use creative financing  safely, ethically, and legally.

✅ Pros: Lower costs, better cash flow, diversification, scalability⚠ Cons: Harder management, reliance on local teams, financing challengesTips:Visit the market first and build a trusted team (agent, PM, contractor).Choose landlord-friendly states with strong rental demand.Consider a low-maintenance property for your first deal.If staying local, you gain hands-on experience, but out-of-state investing can work with proper due diligence.2.

So, it's possible, and still for you!

I've got about $525K in equity in the property, but lenders have told me that I cannot get a HELOC to access that equity for additional purchases because the duplex was financed as an investment - they have said TX law dictates that HELOC can only be used on primary residences.

How did you finance this deal?

The credit thing should not be an issue for many DSCR folks like myself. 80% ltv may be an option, but,I have seldom found the tradeoff in cost/rate to be worth it in the last 12 months. 0% origination is possible, but, as others have said compensation is received in one fashion or another (higher rate, processing fee, etc.).

Plus,  if you have the ability to do another FHA 203k, it's a no-brainer.The low down payment is unbeatable, and then add on that the bank will all finance the renovation!  

@Sang Kim- thanks for clarifying you are trying to get a commercial loan ...this is a  completely different product than a home loan ...You still should be able to  locate and obtain a good commercial loan  without  having to pay any fees upfront  ( other than possibly paying for the appraisal after the  loan has been  approved )

I realize these are already very good terms, but I thought I'd check what is possible.