Check with local builders they might have new inventory they want to move or turnkey rentals.

pid=2114Houston Real Estate Highlights in August, 2024:• Single-family home sales declined 8.3 percent year-over-year• Days on Market (DOM) for single-family homes went from 43 to 47 days• Total property sales were down 11.2 percent with 8,730 units sold• Total dollar volume declined 8.8 percent to $3.5 billion• The single-family median price was down 0.3 percent to $336,940• The single-family average price rose 0.9 percent to $421,912• Single-family home months of inventory registered a 4.5-months supply, up from 3.2 months last August• Townhome/condominium sales continued to decline, falling 16.7 percent, with the median price statistically flat at $226,000 and the average price declined 1.2 percent to $258,952.

We had 2.2 months of inventory in August that is up from last years months of inventory of 1.4 months back in August 2023.We also have had a nice drop in mortgage rates the last several months so I am just hoping rates stay low and inventory increases even more so that we have a lot more real estate sales this winter. 

Im wondering if i can use a heloc on my primary residence to either purchase or use for a down payment on an investment property and then refinance the investment property into a conventional 30 year mortgage to “pay myself back?”  

Was conventional loan on a non owner occupied property at 60% ltv on a cash out refinance. 

I can get a conventional loan, however, I would prefer to use a hard money lender or private lender to fund my first deal.

 @Joe Mathew inventory is still low here in Kansas City which is keeping prices higher than I would like to see. 

It is likely most of them are familiar with both conventional, FHA and potentially other financing options that could be a good fit.

However, this is tricky.A conventional loan tied directly to the rental will make the mortgage interest easier to deduct.2.

Numbers all look good for a conventional loan.