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.

What made you interested in investing in this type of deal?

I am a new real estate investor and I'm trying to determine the best way to finance my first property.

Instead they go about it a** backwards and add more red tape and more complications costing the city and it's residents more money

John I rented a 4 plex i remodled in charleston as the flip market had slowed.. the tax's on it were substantially higher than an owner occ property.. could be the rates were different this was a 1.2 mil prop..

Ironically, I was ready to let go of multifamily and focus on more lease options, but then my team finally got an offer accepted on a 54 unit.

In one of my duplex units, one girl wants to stay and renew her lease but with two new people as the current other two are moving out.She had 2 people willing, but one of them was a smoker so I had to say no.

This is a great place to learn and to connect with people so take advantage of all the great resources.Welcome aboard and best of luck investing!

We have an existing mortgage (backed by these 2 lots and 2 others) and given the increase in appraised value there is no need to pay anything back to the lender when selling the lot.

Or is that actual so you have the ability to add more to the bottom line?