Hi All,I recently secured my second rental property using a HELOC and now I'm thinking about my next purchase.

But IF the property in question is in compliance with all code, and provides a safe and secure environment, all problems are timely addressed and corrected, and the property is maintained on a professional level, then the investor who has a large capital investment in the property should be entitled to enforce any contracts providing him with the agreed to cash flow. 

The court would typically write down the secured note amount to no higher than the appraised value, with the balance of the amount owed being placed in the unsecured creditor status.  

Extensions may be granted for valid reasons, like needing more time to secure financing or complete due diligence.

I personally collect a security deposit and get the damage protection waiver for added protection.

The letter confirms the amount of security deposit and the "paid through" date for rents.

A Heloc can never be used as a PITI reserve, or an asset instead its a debt burden and an additional trade line on credit.A Heloc carries a higher risk when it comes to security meaning if you miss a payment even by mistake or for any reason, your scores drop, or your balances start to change your DTI or usage percentage.

You know your goal isn't to leave the 9-to-5, you have a great job with good scale and security.

While you may need to sift through less serious inquiries, I’ve successfully secured some strong deals and valuable connections through these platforms.

More secure and stable than an STR (also less competition) but you aren't in the red like you'd be with an LTR.